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28 Nov 2011 23:59

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Biz: Don’t look down: Ratings agency says they could downgrade U.S. too

  • The negative outlook indicates a slightly greater than 50 percent chance of a downgrade over a two-year horizon.
  • Credit ratings agency Fitch • Explaining the negative outlook they gave the U.S.’ AAA credit rating. Why the lower outlook? Well, they say there’s “considerable uncertainty surrounding the economy’s potential output.” Well, there won’t be as long as we can figure out a way to turn riots over $2 waffle irons into a sustainable moneymaking endeavor for the U.S. economy at large. We’re sure we can make it happen. Fitch’s downgraded outlook follows S&P’s straight-up downgrade a few months back. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Apr 2011 09:52

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Biz: Amid deficit, S&P warns about U.S. credit-rating dangers afoot

  • Because the U.S. has, relative to its ‘AAA’ peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable.
  • A statement from the Standard & Poor’s • Revealing that, while they affirmed the United States’ spectacular “AAA” credit rating, they were suggesting the the outlook of said credit rating could go negative in the future. They want the country to figure out its budget mess by 2013. “If an agreement is not reached and meaningful implementation is not begun by then,” they write. “this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer ‘AAA’ sovereigns.” Feel that? That’s the grumble of the money beast, wanting to be fed. source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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