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S&P: 1 in 3 chance of further US downgrade

08-08-2011 08:36 BJT

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Standard & Poor's managing director, John Chambers, says there's a one in three chance of a further downgrade to the US credit rating over next two years. Speaking to ABC, Chambers said more political consensus was needed among US lawmakers, if the country is to win back its triple A status.

White House economic advisers have slammed Standard & Poor's, for its decision to downgrade the US to a double A plus. The US Treasury said the agency's calculations are wide of the mark by some 2 trillion US dollars. S&P has confirmed it changed its economic assumptions, following discussions with the US Treasury Department. But it says the talks did not do enough to convince it to reverse the decision. S&P says a major factor in its analysis was an apparent breakdown in the ability of Republicans and Democrats to govern effectively.

 

S&P downgrades U.S. credit rating to AA-plus

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The United States has lost its top-notch triple A credit rating from the international rating agency, Standard & Poor's.

The agency is cutting the country's top triple A rating by one notch to AA-plus. It's making the move because the deficit reduction plan passed by US Congress on Tuesday did not go far enough to stabilize the country's debt situation. Full Story>>

 

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China's Dagong downgrades U.S. credit rating to A from A+

Chinese rating agency Dagong Global Credit Rating has cut America's credit rating from A-plus to A. It is the first rating agency in the world to downgrade the country's credit rating. Full story>>

 

 

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The US will be going to the polls for a presidential election next year, so what impact will the debt deal have on the Obama administration and the US economy? Let's turn to Professor Richard Cooper in the studio... full story>>

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Editor:Zhang Jingya |Source: CNTV.CN

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