The US credit rating has been downgraded by the leading rating agency–Standard & Poor’s by one notch from triple A to double A plus in a contentious and historic move, highlighting the weakened fiscal stature of country.
According to S&P, it is said that the long-term outlook for the US remains negative. This forcast could further lower the rating to double A within the next two years if there is less spending cut than that agreed to under the debt ceiling deal.
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- Tags: S&P, US debt