Posted by
Defend America on Monday, March 15, 2010 2:24:44 PM
U.S., U.K. Move Closer to Losing Rating, Moody’s Says (Update1)
By Matthew Brown
March 15 (Bloomberg) -- The U.S. and the U.K. have moved
“substantially” closer to losing their AAA credit ratings as
the
cost of servicing their debt rose, according to Moody’s
Investors Service.
The governments of the two economies must balance bringing
down their debt burdens without damaging growth by removing
fiscal stimulus too quickly, Pierre Cailleteau, managing
director of sovereign risk at Moody’s in London, said in a
telephone interview.
Under the ratings company’s so-called baseline scenario,
the U.S. will spend more on debt service as a percentage of
revenue this year than any other top-rated country except the
U.K., and will be the biggest spender from 2011 to 2013, Moody’s
said today in a report.
http://www.bloomberg.com/apps/news?pid=20601068&sid=a0a8xAghPS8I