Ouch: S&P Says ‘1 in 3 Chance USA Will Fall Another Notch’


standard-poorsA Standard & Poor’s official says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 months.

The credit rating agency’s managing director, John Chambers, tells ABC’s “This Week” that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.

Chambers also said Sunday that it would take “stabilization and eventual decline” of the federal debt as a share of the economy as well as more consensus in Washington for the U.S. to win back a top rating.

S&P downgraded the U.S. rating Friday, from AAA to AA+, for the first time.

{The Associated Press/Matzav.com Newscenter}


  1. I can say with all confidence that it is S&P the one that got downgraded. They got stuck in a 2 trillion dollar mistake that later had to admit. If I work for S&P I will be looking for a new job.