02 Aug '11, 2am

The US could still lose their AAA debt rating despite the approval of a deal to raise the debt ceiling, say analysts

The US could still lose their AAA debt rating despite the approval of a deal to raise the debt ceiling, say analysts

Even though the House of Representatives approved a deal to raise the federal government's debt ceiling, the US could still lose its coveted AAA debt rating sometime in the next six months. -- PHOTO: REUTERS NEW YORK - EVEN though the House of Representatives approved a deal to raise the federal government's debt ceiling, the US could still lose its coveted AAA debt rating sometime in the next six months, largely because the agreement does not cut enough spending. The three main ratings agencies declined to comment Monday on the prospect of future downgrades. But the agencies, along with economists and analysts, have signalled that doubts about America's debt will persist. The Senate is due to vote on the bill on Tuesday. Moody's Investors Services has said it will probably rate the US debt as AAA for now but with a negative outlook - a rating that indicates a possible dow...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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