S&P Reconsiders U.S. Downgrade, Unidentified Official Tells CNN

Standard & Poor’s is reconsidering an earlier decision to possibly downgrade the U.S. government debt rating after the Obama administration challenged S&P’s conclusions, CNN reported, citing an unidentified administration official.

S&P is revising its analysis after assertions that its conclusions were off by “trillions,” CNN cited the official as saying. Some S&P analysts are still in favor of a downgrade, the official told CNN.