Fitch Ratings said today it affirmed the United States’ top-notch credit rating of AAA, giving the world’s largest economy a reprieve after it was downgraded by Standard & Poor’s little more than a week ago, Reuters reported.

Fitch said the outlook for the rating was stable.

“The affirmation of the U.S. ‘AAA’ sovereign rating reflects the fact that the key pillars of U.S.’ exceptional creditworthiness remains intact: its pivotal role in the global financial system and the flexible, diversified and wealthy economy that provides its revenue base,” Fitch said in its statement.

Fitch warned, though, that the outlook for the rating depended on the economy and the political process in Washington to reduce the public debt.

It said an upward revision to medium- to long-term projections for public dept, either as a result of weaker than expected economic recovery or failure of the congressional “supercommittee” to agree on at least $1.2 trillion in deficit reduction, would likely put the country on negative outlook.