Chambers Says Debt Deal Failure May Press U.S. Rating
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John Chambers, a managing director of Standard & Poor’s, said a failure by the congressional supercommittee to reach an agreement to bring down the U.S. debt could do further harm to the nation’s credit rating.
If the panel can’t reach agreement and Congress thwarts the across-the-board cuts to defense and domestic programs that would be automatically triggered, the U.S. could face additional downgrades, Chambers said in a telephone interview.