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Moody's puts U.S. on downgrade watch

11-24-2011 13:43 BJT

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The political bickering in Washington has caused rating agency Moody's to put long-term U.S. debt on a downgrade watch. Moody's says though, it will not lower the nation's debt rating. That despite a special congressional panel failing this week to reach an agreement, on how to trim 1.2 trillion dollars in the fiscal deficit.

Moody’s says, no action was taken because the impasse will trigger automatic cuts to take place starting in 2013. However, it warns any effort to reduce those cuts could force a ratings downgrade.

Moody’s currently has U.S. government debt with a top rating of triple-A, but with a negative outlook. Fitch will reassess its position on U.S. debt next month, while S&P did not take any action towards the political impasse.

 

Editor:Zhang Rui |Source: CNTV.CN

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