Default on U.S. Debt Risks ‘Permanently’ Denting Nation’s Credit Rating

Three major ratings companies — S&P Global Ratings, Moody’s and Fitch Ratings — play a big role in how damaging those consequences can be. “Our view is that we would need to reflect that permanently in the rating,” said William Foster, the lead analyst for the United States at the rating agency. The agency has said that if the Treasury Department misses one interest payment, its credit rating would be lowered by a notch. “That’s not good for the United States,” Indonesia’s finance minister, Sri Mulyani Indrawati, said at a recent gathering of global financial leaders. “We always have an open channel with those governments, including the U.S.”The post Default on U.S. Debt Risks ‘Permanently’ Denting Nation’s Credit Rating appeared first on New York Times.