Scope Ratings places US credit ratings under review for possible downgrade

Scope, which is seen as the leading European credit rating agency, said that recurrent debt-ceiling crises have resulted in phases of debt repayment distress for the U.S government, adding that the government is dependent on last-minute congressional action to ensure repayment of its debt in full and on time.

The United States could run out of money to pay its bills as soon as June 1 if Congress does not raise the debt ceiling, according to Treasury Secretary Janet Yellen. Scope also placed United States' S-1+ short-term issuer ratings in local and foreign currency under review for downgrade.

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