S&P Backs Up Moody's on Credit Downgrade Warning

Katie Pavlich
Posted: Jul 14, 2011 10:03 AM

Yesterday Elisabeth reported that Moody's credit agency has warned that the U.S.-AAA credit rating could be downgraded as debt talks in Washington continue to staul and default looms. Standard and Poor's, is enforcing that warning.

Standard & Poor's has warned lawmakers privately that it would downgrade the country's debt if the Treasury Department is forced to prioritize payments because Congress does not raise the debt limit, a congressional aide said on Thursday.