Announcements should be expected this morning about more knock-on effects to corporations from S&P's decision to downgrade the United States' credit rating, the head of Standard & Poor's sovereign ratings said on Monday.
David Beers also told Reuters Insider television that the US outlook could be raised to stable if the US deficit-cutting deal is fully implemented and the Obama administration ends the Bush tax cuts.
Standard & Poor's downgrade of US rating to AA+ from triple-A has spread panic across markets and there is a sense of nervousness of a possible global downturn.
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