a debt ceiling and the intensely partisan nature of American politics has transformed discussions over raising the debt ceiling into a hyper-political bargaining match, which all too often results in weeks or months of tense stalemate as default creeps closer.It’s uncertain what would happen should another major agency downgrade the U.S.’ credit rating, even if default is averted. A lot will depend on how investors respond .
The top positions of both the greenback and the country, which allows the U.S. to negotiate far more favorable deals than it would otherwise manage, is at risk if the downgrade sparks doubt on the solidity of American investments for foreign investors and governments.Moody’s is unlikely to downgrade the U.S. anytime soon, William Foster, a senior vice president and senior credit officer in the firm’s Sovereign Risk Group,Politico.
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