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S&P top officials say that agency may downgrade U.S. credit rating again

A Standard & Poor’s officials say there is a chance that the U.S. credit rating could be downgraded again.

The Standard & Poor’s managing director, John Chambers, tells ABC‘s “This Week” that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.

On Friday Standard & Poor’s downgraded the US’s credit rating from AAA to AA+, for the first time. One of the men behind the decision, S & P credit analyst  and the head of Standard & Poor’s sovereign ratings David Beers also tells Fox News’ Chris Wallace that they have a negative outlook on the rating and that means they think that the risk currently for the rating are to the downside.

John Chambers also said Sunday that it would take “stabilization and eventual decline” of the federal debt as a share of the economy as well as more consensus in Washington for the U.S. to win back a top rating.

(7 August 2011,Sunday)