S&P, Republicans to meet to talk about debt woes: source

Reuters News
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Posted: Jul 21, 2011 1:30 PM
S&P, Republicans to meet to talk about debt woes: source

WASHINGTON (Reuters) - Standard & Poor's will meet with first-term Republican lawmakers on Thursday to discuss what could cause the rating agency to downgrade the country's top credit rating, a source familiar with the meeting said.

S&P has already warned that there is a 50-50 chance that the U.S. triple A credit rating could be cut within three months if nothing is done to meaningfully reduce the U.S. budget deficit.

(Reporting by Rachelle Younglai)