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Tue Jan 15, 2013, 08:41 AM

Fitch warns on U.S., Spain ratings, upbeat on Ireland

Source: Reuters

Fitch warns on U.S., Spain ratings, upbeat on Ireland

By Marc Jones and William James
LONDON | Tue Jan 15, 2013 7:25am EST

(Reuters) - The United States faces a "material risk" of losing its triple-A status if there is a repeat of the wrangling seen in 2011 over raising the country's self-imposed debt ceiling, credit ratings firm Fitch said on Tuesday.

Fitch also said Spain will continue to face downgrade risks even if it avoids having to ask for a bailout, while Ireland could claw its way back into the single-A rating band if a deal is struck to share the burden of its banking debts.

Despite December's deal by U.S. politicians to avoid the so-called "fiscal cliff" of spending cuts and tax hikes, Fitch's head of sovereign ratings, David Riley, said pressure on the country's rating was increasing.

"If we have a repeat of the August 2011 debt ceiling crisis we will place the U.S. rating under review. There will be a material risk of the U.S. rating coming down," Riley said at a conference hosted by the firm.

-snip-


Read more: http://www.reuters.com/article/2013/01/15/us-united-states-rating-fitch-idUSBRE90E0D620130115

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Reply Fitch warns on U.S., Spain ratings, upbeat on Ireland (Original post)
Eugene Jan 2013 OP
Cali_Democrat Jan 2013 #1

Response to Eugene (Original post)

Tue Jan 15, 2013, 08:49 PM

1. The rating agencies need to start calling out the Republicans by name

Stop beating around the bush. Enough of this "both sides are responsible" bullshit.

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