U.S. faces S&P downgrade again if no budget plan, Chambers says
World BusinessFeb 9, 2012
The U.S., lacking a plan to contain $1 trillion deficits, faces the prospect of another rating cut in six to 24 months depending on the outcome of November elections, according to John Chambers of Standard & Poor’s. America has had an “AA+” rating with a negative outlook since Aug. 5 when the New York-based unit of McGraw-Hill Cos. stripped the nation of its “AAA” ranking for the first time, citing the government’s failure to agree on a path to reduce deficits. The U.S. has a one-in-three chance