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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,”
