Reports: S&P likely to downgrade US credit - WMC Action News 5 - Memphis, Tennessee

Reports: S&P likely to downgrade US credit

(WMC-TV) - Officials inside both government and the financial world are waiting with bated breath as numerous media outlets report it's likely at least one rating agency will downgrade U.S. debt.

CNBC and ABC News cited sources who said Standard & Poor's plans to lower the nation's credit rating as early as today.

"Throughout Friday, markets were rife with speculation that S&P, which has had a negative outlook on the U.S. since April 18, would downgrade the country's credit from its current triple-A level," according to a report by CNBC.

Reports say it's unclear if the United States would be downgraded to AA+ or AA.

Earlier this week Fitch and Moody's, the other rating agencies, confirmed the nation's AAA rating.

Stay tuned to Action News 5 and for the latest on this developing story.

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