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Standard & Poor's Analysts Leveled Down the US Credit Rating...
16-08-2011 18:47
Standard & Poor's Analysts Leveled Down the US Credit Rating
Standard & Poor's Analysts Leveled Down the US Credit Rating

On Friday, August 05 Standard & Poor's rating agency put down the top notch US credit rating first time from AAA to AA+. Reuters informs that such decision was taken amid the fears related to the budget deficit. Reuters notes that now security papers of the US Treasury lag behind the public bonds reliability of such countries as Great Britain, Germany, France or Canada. Standard & Poor's experts warned that another US rating forecast is negative implying the new reduction probability in the nearest year or one and half. Earlier on Friday CNBC reported that S&P warned the US Government about its intention to downgrade the credit rating. In its turn, the government source told the channel that there was a mistake in the analysts’ calculations for “trillions” of dollars. As may be supposed, Standard & Poor's employees made a mistake reckoning the US foreign debt and GDP ratio. The public servants pointed to the agency’s mistake. It has not been reported about S&P reaction yet. Standard & Poor's denounced about cutting the US credit rating in the middle of July. The analysts promised to make it in case the debt limit is not advanced and the MinFin comes unable to fulfill its debt commitments. The Congress passed the bill of advancing the debt limit on August 02, afterwards, it was signed by Barack Obama. Nevertheless, S&P analysts leveled down the US rating. Moody's rating agency also placed the US credit rating into consideration in the mid of July. However, after expanding the debt limit the agency’s analysts reported about fixing the rating at the same top notch rate.  

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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