Monday, August 8, 2011

[news] Odds of a further US credit set back

Standard & Poor's has warned that there is a one in three chance of further credit downgrades of U.S., as trade blame lawmakers for the failure to curb the country's huge debt.

The rating agency attached to the United States from a pound from AAA to AA + rating on Friday, largely due to the failure of U.S. leaders bitterly divided to reach consensus on containing the nation's spiraling debt.

"If the fiscal situation of the United States deteriorates further, or if the political paralysis becomes more entrenched, then that could lead to (another) downgrade," said SP ratings of the head, John Chambers, television ABC Sunday.

"The outlook indicates at least one in three chance of a cut" in the next six to 24 months, said the program's network of political speech this week.

He added that in the past nine countries and has taken 18 years to regain a AAA rating and warned that "it would take, I think, ability to reach a consensus in Washington that we are seeing now."

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