October 24, 2011
The United States will probably suffer the loss of its triple-A credit rating from another rating agency by the end of this year because of concerns over the deficit, Bank of America Merrill Lynch is forecasting.
The trigger would be a likely failure by Congress to agree on a credible long-term plan to cut the deficit.
A second downgrade â€“ either from Moody’s or Fitch â€“ would follow Standard & Poor’s downgrade in August and represent an additional blow to the sluggish US economy, Merrill said.
This article was posted: Monday, October 24, 2011 at 2:54 am