Moody’s rating agency left the credit rating of the USA (“Aaa”) unchanged after the settlement on the increase of state debt limit was arranged. It is reported by Ahence France-Presse on August 2.
At the same time the rating change forecast was announced as “negative”. Analysts suppose that agreement between the Congress and the White House is only the “first step” towards overcoming the crisis and accept the possibility of downgrading the US credit rating in case of economic worsening or debt growth during the next two years.
On July 13 Moody’s reported that the US credit rating might be revised. This step was taken due to threat of technical default in the USA. At the same time Moody’s considered the potential rating decrease low.
In May 2011 US Treasury reported that state debt had reached the limit. There was a threat of technical default in case US Congress would refuse to accept the limit increase till August 2. Congress was declining a new project for a long time requiring Barack Obama Administration to cut the budget expenses. The compromise which satisfied both parties was reached on August 1. According to the new program, the debt limit was raised to 2.1 trillion dollars and the budget expenses will be reduced by 2.5 trillion dollars in total.
