Tags: Beers | S&P

S&P's Beers: Downgrade Won't Affect Markets Much

Sunday, 07 Aug 2011 09:22 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The head of Standard & Poor's sovereign ratings, David Beers told "Fox News Sunday" he did not expect "that much impact" when global markets open on Monday because what he called a "mild deterioration" in the U.S. credit standing to AA-plus from top-tier AAA.

Asked about the prospects for a further lowering of the U.S. rating, Beers said the agency's negative outlook meant that "risks are on the downside."

He also said the downgrade announced on Friday was not due to the budget positions of any political party and that on any future agreement, "We think credibility would mean any agreement would command support from both political parties."

Beers called the U.S. Treasury Department's criticism of the credit rating agency's analysis a "complete misrepresentation." Even with the debt limit agreement passed by Congress, he said, "the underlying debt burden of the U.S. is rising and will continue to rise over the next decade."

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved