Published by Jamie JemmesonMoody's has confirmed that is has no intention of downgrading the US or UK's sovereign debt ratings.In an interview with Bloomberg, senior vice-president for the ratings agency Tom Byrne insisted that the outlook for both countries is stable, reiterating comments made by Steven Hess, vice-president and senior credit officer at the company.However, he explained that the US and UK's Aaa ratings may be tested further and have been classified as "resilient". The top designation of "resistant" has been assigned to the debt ratings of Germany, Canada and France.Explaining the "resilient" classification, Mr Byrne said it described "Aaa countries whose public finances are deteriorating considerably and may therefore test the Aaa boundaries, but which display, in our opinion, an adequate reaction capacity to rise to the challenging and rebound".The announcement may inspire a degree of confidence in sterling in foreign exchange markets and provide further support for the dollar, which has enjoyed a period of recovery in recent weeks.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site