Raising the Debt Ceiling will NOT prevent a downgrade of our AAA rating. The problem is our SPENDING is exceeding our ability to pay the bills. UNLESS there is REAL spending cuts and reform in the bill, WE WILL STILL BE DOWNGRADED!
What I've seen of the "deal" it does not meet the criteria laid out publicly by the credit rating houses which wanted to see $4T in cuts which only "Cut, Cap & Balance" offered.
This "deal" should cause our rating to drop just as any "clean raise" of the debt limit--that Obama asked for and some Rats were still advocating yesterday--would have done.
It remains to be seen if S&P and Moodys have the guts to call WA out.