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Bad Homburg, 8 June 2011 - The Bad Homburg € Feri Rating & Research AG downgraded the first credit rating agency's credit rating for the United States from AAA to AA. Feri analysts justify the step with the continuing deterioration of the creditworthiness of the country due to high public debt, inadequate fiscal consolidation measures and weaker growth prospects.
"The U.S. government has combated the effects of the financial market crisis has so far primarily by an increase in government debt. We do not see that here is sufficient countermeasures, "said Dr. Tobias Schmidt, CEO of Feri Rating & Research AG €. "Our rating system shows a deterioration in unique, so is the downgrading of the credit ratings of U.S. natural fit."
Feri Rating & € is on the Federal Financial Supervisory Authority (BaFin) as an EU credit rating agency approved and created more than 20 years, sovereign ratings. Every month, the Feri analysts evaluate from the perspective of a foreign investor's ability and willingness of countries to repay their debts. The result is the evaluated country has a credit rating in eleven possible gradations between "AAA" (best credit) and "Default".
WASHINGTON — Moody’s Investors Service warned Thursday that it might downgrade the United States government’s sterling credit rating if Congress did not increase the nation’s debt limit “in coming weeks,” putting a spur to the sputtering talks between party leaders and the White House on a plan to restore fiscal stability.
President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.
"I'm confident that Germany's leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable," Obama said.