Recent affirmations by S&P, Fitch, and Moody’s of the US sovereign rating at AA+/Aa1 with stable outlooks reflect resilient economic growth, tariff-supported revenues, and fiscal deficits that remain elevated but broadly stable rather than sharply worsening. The 2025 debt-limit increase to $41.1 trillion provides borrowing authority through mid-2027, deferring any near-term ceiling confrontation or extraordinary measures that have previously triggered rating pressure. With no scheduled legislative or executive actions expected to materially alter the fiscal trajectory before year-end 2026, rating agencies cite no immediate catalysts for further downgrades. Traders price the low probability of another downgrade accordingly, consistent with the absence of acute political or macroeconomic shocks in the resolution window.