S&P downgrades US rating outlook to negative

first_img Credit rating agency Standard & Poor’s has downgraded the US’ rating outlook to negative from stable.The agency cited concerns over the US’ fiscal situation caused by a lack of decisive action on the budget deficit, which in contrast to other major economies is set to grow further this year.The US has “…very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us,” it said.S&P said the US’ AAA long-term and A-1+ short-term sovereign credit ratings were still in place but revised its outlook on the long-term rating to negative.Even under its optimistic scenario that the US’s fiscal profile “would be less robust than those of other “AAA” rated sovereigns by 2013,” it added. whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe Tags: NULL Monday 18 April 2011 9:45 am Share whatsapp S&P downgrades US rating outlook to negative More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com alison.lock The move has shocked markets and caused a rush to gold and other safe haven assets, with the dollar the biggest loser.“Although this comes as a shock to the markets and they experienced a knee jerk reaction in the immediate aftermath, it isn’t that surprising. S&P had warned the US on its credit rating back in January when it said its top rating was at risk,” said Kathleen Brooks, research director at Forex.com.S&P said the move signals there is at least a one-in-three likelihood that it could lower the US’ long-term rating within two years.Congress passed the 2011 budget but uncertainty still remains on how the US will cut its $14.3 trillion (£8.7 trillion) national debt. last_img

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