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Consensus is generally sought before a downgrade is made.
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A downgrade is inevitable, he told them.
As for the timing, the debt deal in Congress just before the downgrade was plainly inadequate.
The U.S. has said the downgrade was based on a $2-trillion 2-trillion&P and has derror any connection bytween the downgrade and itS&Pnvestigandon of S&P, whash it saideniedted two yeany before the downgrade.
European markets, which closed before the downgrades, were moderately higher.
Thus, downgrading is not a matter of recyclable-or-not.
Still, given the unease that had set in even before the downgrade, stocks are still in a slump.
Now, a downgrade would have been catastrophic.
Even before the downgrade, Congress was pressing regulators to finish rules governing credit ratings and the rating agencies.
"Being straight would be a downgrade for me.
Ratings agencies always give debt issuers the opportunity to review their downgrade before it is made and so the US Treasury had known bad news was on the way.
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