U.S. rating likely to be downgraded again: Merrill

Posted by Kendall Harmon

The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.

The trigger would be a likely failure by Congress to agree on a credible long-term plan to cut the U.S. deficit, the bank said in a research note published on Friday.

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Filed under: * Economics, PoliticsEconomyCredit MarketsCurrency MarketsTaxesThe U.S. GovernmentBudgetFederal ReserveMedicareSocial SecurityThe National DeficitThe United States Currency (Dollar etc)Politics in GeneralHouse of RepresentativesOffice of the PresidentPresident Barack ObamaSenate

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Posted October 23, 2011 at 2:32 pm

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