U.S. Credit Rating Could Suffer Again (Reuters)

Long-term plan for debt reduction is needed, rating agencies say.

All three credit rating agencies say they are watching the budget negotiations in Washington closely and are poised to downgrade the U.S.’s credit rating again next year if there's no progress in reducing the deficit, Reuters reports.

A temporary plan to avoid the fiscal cliff in the near term may not be enough, according to a managing director at Fitch, Reuters reports.

 

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