Thursday, August 4, 2011

Dagong Global Credit Rating Downgrades U.S. from A-Plus to A

A Chinese ratings agency yesterday downgraded the U.S. from A-plus to A, saying the deal to lift the debt ceiling would not solve underlying U.S. debt problems or improve its debt-paying ability over the long term. Dagong Global Credit Rating, a relative newcomer to the sovereign debt rating realm and little known outside of China, said in a statement that the U.S. decision to raise the borrowing ceiling would not change the fact that the growth of its debt had outpaced overall economic growth and fiscal revenue.

No comments:

Post a Comment