Tags: update | moody

Moody's Warns of Rising Risk on U.S. Credit Rating

Thursday, 02 Jun 2011 03:41 PM

 

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Moody's Investors Service said Thursday there is a very small but rising risk of a short-lived default by the United States if there is no increase in its statutory debt limit in coming weeks.

In a statement, Moody's said if there is no progress in increasing the debt limit, it would expect to place the Aaa sovereign credit rating on review for a possible downgrade.

"If the debt limit is raised and default avoided, the Aaa rating will be maintained. However, the rating outlook will depend on the outcome of negotiations on deficit reduction," Moody's said. (Reporting by Daniel Bases; Editing by Andrew Hay)

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