Ratings agency Standard & Poor's, still under fire for downgrading the United States late last week, on Monday again restated the reasons for its decision while rival Moody's set itself apart, saying America still has the characteristics of a AAA-rated country.
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.
The S&P has downgraded the US credit rating for the first time in history. In an interview on CNBC-TV18, James Glassman of JPMorgan; Peter Hickson of UBS and Vandana Hari, Asia Editorial Director, Platts talk about what the reaction has been across global markets and what kind of ramifications this could have on our market.
The United States lost its top-tier AAA credit rating from Standard & Poor's on Friday in an unprecedented blow to the world's largest economy in the wake of a political battle that took the country to the brink of default.
The Obama administration attacked the credibility of the analysis underlying Standard & Poor's decision to downgrade the United States' top credit rating on Friday, saying it had found a USD 2 trillion error.
The top official behind Standard & Poor's historic decision on Friday to downgrade the United States' prized triple-A credit rating said it was his company's duty to make such a hard and controversial call.