Moodys alerta de bajar el rating a los mismisimos Estados UNIDOS...
Con dos cojo...nes..
Estos de moodys se les ha ido la pinza...
Ale mañana tonto el ultimo
http://www.morningstar.co.uk/uk/markets/newsfeeditem.aspx?id=148573656437778
DJ Moody's Places Us Aaa Government Bond Rating And Related Ratings On Review For Possible Downgrade
13/07/2011 21:59 | Freddie Mac (FHLMC)
The following is a press release from Moody's Investors Service:
New York, July 13, 2011 -- Moody's Investors Service has placed the Aaa
bond rating of the government of the United States on review for possible
downgrade given the rising possibility that the statutory debt limit will
not be raised on a timely basis, leading to a default on US Treasury debt
obligations. On June 2, Moody's had announced that a rating review would
be likely in mid July unless there was meaningful progress in
negotiations to raise the debt limit.
In conjunction with this action, Moody's has placed on review for
possible downgrade the Aaa ratings of financial institutions directly
linked to the US government: Fannie Mae, Freddie Mac, the Federal Home
Loan Banks, and the Federal Farm Credit Banks. We have also placed on
review for possible downgrade securities either guaranteed by, backed by
collateral securities issued by, or otherwise directly linked to the US
government or the affected financial institutions.
RATIONALE FOR REVIEW
The review of the US government's bond rating is prompted by the
possibility that the debt limit will not be raised in time to prevent a
missed payment of interest or principal on outstanding bonds and notes.
As such, there is a small but rising risk of a short-lived default.
Moody's considers the probability of a default on interest payments to be
low but no longer to be de minimis. An actual default, regardless of
duration, would fundamentally alter Moody's assessment of the timeliness
of future payments, and a Aaa rating would likely no longer be
appropriate. However, because this type of default is expected to be
short-lived, and the expected loss to holders of Treasury bonds would be
minimal or non-existent, the rating would most likely be downgraded to
somewhere in the Aa range.
The specific rating that would be assigned at the conclusion of the review
once such a default is cured would depend on (1) the speed with which
the default is cured; (2) an assessment of the likely effect on future
borrowing costs; and (3) whether there is a change in process for
raising the debt limit that would preclude another default. A return to
a Aaa rating would be unlikely in the near term, particularly if there
were no progress on the third consideration.
While the debt limit has been raised numerous times in the past, and
sometimes the issue has been contentious, bond interest and principal
have always been paid on time. If the debt limit is raised again and a
default avoided, the Aaa rating would likely be confirmed. However, the
outlook assigned at that time to the government bond rating would very
likely be changed to negative at the conclusion of the review unless
substantial and credible agreement is achieved on a budget that includes
long-term deficit reduction. To retain a stable outlook, such an
agreement should include a deficit trajectory that leads to stabilization
and then decline in the ratios of federal government debt to GDP and debt
to revenue beginning within the next few years.
Moody's does not take a position on what measures should be included in
any deficit reduction package. Instead, it is the resultant deficit and
debt trajectories that are relevant to the rating and its outlook.
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