BEIJING, (PNA/Xinhua) — Dagong Global Credit Rating Co. Ltd., a Chinese credit rating agency, on Thursday downgraded the local and foreign currency credit ratings of the United States to A- from A, maintaining a negative outlook.
The decision came shortly after the U.S. Congress approved the resolution to end the partial government shutdown and raise the debt ceiling.
Although the U.S. federal government managed to avoid a default crisis for the moment, its solvency remains vulnerable as for a long time the U.S. government has maintained its solvency by repaying its old debts through raising new ones, said the agency.