(Adds details from note) BOSTON, Nov 4 (Reuters) - Debt rating agency Moody’s Investors Service on Wednesday said that uncertainty over the outcome of the U.S. presidential election is “unlikely to have significant credit effects” even as votes continued to be counted in key states. In a research note sent by a spokeswoman, Moody’s wrote that “While the lack of an immediate conclusion to the election process may increase financial market volatility, our assumption is that US institutions will eventually resolve the delays in vote counting and any subsequent disputes over the results in a manner that is consistent with the established frameworks around the rule of law without causing any meaningful, enduring credit impact.” Moody’s and another agency had said they would monitor if a contested result would have implications for the country’s nearly top-notch debt rating. As of late morning on Wednesday a very close U.S. presidential election hung in the balance, with a handful of closely contested states set to decide the outcome in the coming hours or days, even as President Donald Trump falsely claimed victory and made unsubstantiated allegations of electoral fraud. Democratic challenger Joe Biden had opened up narrow leads in the key battlegrounds of Wisconsin and Michigan, according to Edison Research. (Reporting by Ross Kerber Editing by Chizu Nomiyama and Diane Craft)