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China’s Dagong сut US сredit rating

Dagong Global Credit Rating, one of China’s four biggest credit rating companies, downgraded the local and foreign currency credit ratings of the U.S. to A- from A, maintaining a negative outlook. Dagong’s decision came hours after the US Congress voted to lift the debt limit, ending a shutdown that began Oct. 1 and took $24 billion out of the economy. 

“A debt crisis evolves into a political crisis, which in turn exacerbates the debt crisis,” Dagong said in the e-mail. “Such political environment over debt repayment renders the dim and pale prospect of the U.S. federal government’s solvency.”

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