Debt Ceiling Debate: Moody's Puts U.S. On Review For Downgrade

Source: ABC News Moody's said it would put the United States on review for downgrade if there is not substantial progress on a debt deal by mid-July. They did just that this afternoon. "Moody's considers the probability of a default on interest payments to be low but no longer to be de minimis," reads the a press release from the credit rating agency. "An actual default, regardless of duration, would fundamentally alter Moody's assessment of the timeliness of future payments, [...]