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It’s getting harder and harder to see how the US preserves it’s AAA status — a chance that has unknown consequences for the global economy and financial system.Every major ratings agency has made comments about the pristine US rating in recent weeks due to both the debt ceiling and the debt itself.
The latest: Moritz Kramer — head of S&P’s debt evaluation team — said there is a 1-in-3 chance that his firm will cut the US AAA in the next few years, according to Bloomberg.
Kraemer was speaking at a panel discussion in London.
Last night, Fitch made a warning that the US rating would be put on negative watch if a debt ceiling deal isn’t agreed to by August 2.
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