Global credit rating agencies Standard & Poor’s and Moody’s say that they will maintain their current sovereign credit ratings for the U.S. even though the U.S. Congressional “Super Committee” has failed to reach a deal on a deficit reduction proposal.

Standard & Poor’s said that there is no reason for it to lower its U.S. sovereign credit rating of "double-A-plus" as the government’s spending will automatically be reduced by one-point-two trillion dollars despite the Super Committee’s failure to reach a deal.

Moody’s said that it will also keep the U.S. rating at the current “triple-A” and leave the credit outlook for the U.S. “negative.”