DBRS Places U.S.’s AAA Credit Rating Under Review for Downgrade
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The U.S.’s top AAA credit ranking was put on review “with negative implications” by DBRS Inc., which cited the government’s failure to raise the federal debt limit.
The Toronto-based ratings company took the action as a deadlock in Washington kept the U.S. government partially shut for a ninth day and a debt deadline approached. Treasury Secretary Jacob J. Lew has told Congress extraordinary measures being used to avoid breaching the $16.7 trillion debt ceiling “will be exhausted no later than Oct. 17” and the department will have about $30 billion in cash to pay obligations.