S&P Downgrade of U.S. Debt Approved By 67% in Global Poll
This article is for subscribers only.
Global investors say that Standard & Poor’s was justified in cutting its rating of U.S. debt on Aug. 5, according to a Bloomberg survey.
Sixty-seven percent of those responding backed the decision by McGraw-Hill Cos.’ S&P to downgrade the U.S. credit rating to AA+ from AAA, a Bloomberg Global Poll shows. U.S. investors were less supportive, with 57 percent approving, compared with about three-fourths of respondents in Europe and Asia, last week’s survey of 1,031 Bloomberg subscribers found.