Thursday, July 14, 2011

Moody Places U.S. Under Review

It used to be Ireland, Portugal, greece. Now the rating agencies are the bosses apparently. Moody’s Investors Service placed the nation’s credit rating under review for a downgrade.

The U.S. has been rated Aaa since 1917, but this has now been put on review. The move the pressure on U.S. lawmakers to increase the government’s $14.3 trillion debt limit. The reasons are concerns that the debt threshold will not be raised to prevent a missed payment of interest or principal on outstanding bonds and notes.
Steven hess, the senior credit officer at Moody’s in New York, said today: “What we’re looking for is a raising of the limit. It doesn’t matter the process that they get there,”

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