BUSINESS
08/06/2011 09:42 pm ET Updated Oct 06, 2011

U.S. Credit Downgrade: Standard & Poor's Warn More Downgrades May Come

A day after Standard & Poor’s took the unprecedented step of downgrading the creditworthiness of the United States government, the ratings agency offered a full-throated defense of its decision, calling the bitter stand-off between President Obama and Congress over raising the debt ceiling a “debacle,” and warning that further downgrades may lie ahead.

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