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Moody's warns US on possible debt downgrade

06-03-2011 11:14 BJT

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Moody's has sounded the alarm over the US debt limit. The credit rating's agency is warning the U.S. government that it could lose its sterling debt rating if Congress and the Obama administration don't reach an agreement to raise the nation's borrowing limit.

Moody's said yesterday that if the parties fail to make progress soon, it would put the U.S. rating under review for a possible downgrade. That's because there's a "very small but rising risk" that the government will default on its debts. Moody's also warned the government could face a downgrade if it fails to come up with a long-term plan to reduce the country's deficit.

Editor:Xiong Qu |Source: CNTV.CN

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