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Intel Corporation Message Board

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  • alexander.dumbass alexander.dumbass Aug 5, 2011 9:03 PM Flag

    S&P DOWN GRADE MAYBE THIS WEEKEND

    They downgraded based on the smaller value of the agreement AND ability of Congress and the President to agree.


    •We have lowered our long-term sovereign credit rating on the United
    States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term
    rating.

    •We have also removed both the short- and long-term ratings from
    CreditWatch negative.

    •The downgrade reflects our opinion that the fiscal consolidation plan
    that Congress and the Administration recently agreed to falls short of
    what, in our view, would be necessary to stabilize the government's
    medium-term debt dynamics.

    •More broadly, the downgrade reflects our view that the effectiveness,
    stability, and predictability of American policymaking and political
    institutions have weakened at a time of ongoing fiscal and economic
    challenges to a degree more than we envisioned when we assigned a
    negative outlook to the rating on April 18, 2011.

    •Since then, we have changed our view of the difficulties in bridging the
    gulf between the political parties over fiscal policy, which makes us
    pessimistic about the capacity of Congress and the Administration to be
    able to leverage their agreement this week into a broader fiscal
    consolidation plan that stabilizes the government's debt dynamics any
    time soon.

    •The outlook on the long-term rating is negative. We could lower the
    long-term rating to 'AA' within the next two years if we see that less
    reduction in spending than agreed to, higher interest rates, or new
    fiscal pressures during the period result in a higher general government
    debt trajectory than we currently assume in our base case.

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