S&P says no cut planned in US credit rating

NexusFi · 2011-11-21T19:30:24-05:00

WASHINGTON (AP) -- Credit rating agency Standard & Poor's says it will not downgrade the U.S. government's credit rating because a Congressional committee failed to come up with a plan to trim deficits by at least $1.2 trillion over the next decade. S&P in August cut its rating of long-term U.S. Treasury securities by one notch from AAA to AA+, the first such downgrade of U.S. government debt in history. In a brief statement Monday, S&P said it did not plan a further downgrade of the rating based on …

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Updated November 22, 2011

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S&P says no cut planned in US credit rating

November 21st, 2011, 07:30 PM	#1 (permalink)
kbit Aurora, Il USA Elite Member Experience: Advanced Platform: TradeStation Trading: futures Posts: 5,854 since Nov 2010 Thanks Given: 3,295 Thanks Received: 3,364	WASHINGTON (AP) -- Credit rating agency Standard & Poor's says it will not downgrade the U.S. government's credit rating because a Congressional committee failed to come up with a plan to trim deficits by at least $1.2 trillion over the next decade. S&P in August cut its rating of long-term U.S. Treasury securities by one notch from AAA to AA+, the first such downgrade of U.S. government debt in history. In a brief statement Monday, S&P said it did not plan a further downgrade of the rating based on the supercommittee's failure to agree on a plan. But S&P warned that its present rating is based on the expectation that automatic cuts will take effect in January 2013. Some Republicans are vowing to block the defense spending cuts. S&P says no cut planned in US credit rating - Yahoo! Finance

Last Updated on November 21, 2011