THE BOSS OF MONEY SPEAKS: More ominously, S&P warned that if - TopicsExpress



          

THE BOSS OF MONEY SPEAKS: More ominously, S&P warned that if Congress failed to pass a debt-ceiling hike before the out-of-money date in mid-October, it would cut the U.S. to “selective default.” Selective default isn’t exactly the end of the world, but close. It “indicates the issuer … had failed to meet one or more of its outstanding debt obligations.” S&P explained that it “would analyze the changes in the political and economic landscape in determining a post-default rating,” but typically, it warned, a selective default ends up knocking credit ratings to “between CCC and B.” JUNK!
Posted on: Tue, 01 Oct 2013 18:47:27 +0000

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