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Impasse on fiscal cliff does not affect US sovereign rate-S&P
December 28, 2012 / 8:45 PM / 5 years ago

Impasse on fiscal cliff does not affect US sovereign rate-S&P

NEW YORK, Dec 28 (Reuters) - Standard & Poor’s Ratings Services said on Friday it does not expect U.S. lawmakers’ negotiations over the so-called fiscal cliff to have an impact on the sovereign credit ratings of the U.S. federal government.

The credit ratings agency said it believes the same general conditions under which it downgraded the U.S. credit rating to AA-plus/A-1+ from AAA in August 2011 continue to exist.

“Our existing negative outlook on the U.S. rating speaks to the risk of a deliberate further loosening of fiscal policy, for example, through a material weakening of the Budget Control Act of 2011 without compensating measures,” S&P said in a statement.

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