Scope Ratings places US credit ratings under review for possible downgrade

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Scope Ratings on Friday placed the United States of America’s AA long-term issuer and senior unsecured debt ratings in local and foreign currency under review for a possible downgrade due to longer run risks associated with the misuse of the debt ceiling instrument, per Reuters.

Scope, the leading European credit rating agency per Reuters, said that recurrent debt-ceiling crises have resulted in phases of debt repayment distress for the US government, adding that the government is dependent on last-minute congressional action to ensure repayment of its debt in full and on time.

Also read: Forex Today: Commodity currencies comeback, focus shifts to US inflation

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