Moody’s and S&P are warning they may soon downgrade the United States’ coveted AAA sovereign debt rating if the debt ceiling isn’t raised or if the country misses any debt payments or fails to meet obligations like distributing Social Security checks, but at least one credit rating firm appears to have reached the end of its patience.
In fact, Egan-Jones, a smaller credit rating agency based in Haverford, Pa., might issue a downgrade as early as next week, long before the so-called Big Three credit rating agencies are expected to take action.
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