• S&P says the Fiscal Cliff deal wont affect US outlook
• But the deal does little to place US medium-term public finances on a more sustainably footing
• The deal doesn’t affect their view of US credit outlook
• S&P sees a reduced risk of a US recession in the next 12 months; now 10-15% chance down from a 15-20% chance
• See US GDP growth at 2.2% for 2013