By Josh Beckerman

Moody's Investors Service affirmed its triple-A rating for the U.S., predicting the economy will recover in time following "unprecedented challenges" during the coronavirus pandemic.

The rating firm's outlook for the U.S. remains stable.

Moody's believes the "combination of exceptional economic strength, high institutions and governance strength, and extremely low exposure to credit-related shocks continue to support its Aaa rating, despite ongoing erosion in fiscal strength."

Moody's said its assessment of the nation's fiscal strength "incorporates the expectation of a sharp widening of federal government deficits to about 18% and 11% of GDP in 2020 and 2021," largely due to emergency fiscal stimulus measures.

On April 2, S&P Global has affirmed its AA+ rating for the U.S., with a stable outlook.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

June 19, 2020 19:35 ET (23:35 GMT)