Potential U.S. Debt Default Threatens Credit Rating

If the US government defaults on its debt, even for a few hours, it could have long-lasting consequences for the nation's future. Three major ratings companies - S&P Global Ratings, Moody's, and Fitch Ratings - play a big role in how damaging those consequences can be. If the government misses a debt payment, all three companies have vowed to lower the rating of the United States as a borrower, and they may be reluctant to restore it to its previous level, even if a deal is reached soon after the default.