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  • Moody's says U.S. needs to find more deficit cuts

    08/08/2011 6:17:21 AM PDT · by markomalley · 52 replies · 1+ views
    Reuters ^ | Mon Aug 8, 2011 | Walter Brandimarte
    Ratings agency Moody's repeated a warning on Monday it could downgrade the United States before 2013 if the fiscal or economic outlook weakens significantly, but said it saw the potential for a new debt agreement in Washington to cut the budget deficit before then. With U.S. markets still to open after rival Standard & Poor's stripped the United States of its AAA rating late on Friday, Moody's said in a statement its own decision to affirm the AAA rating on August 2 was on the condition that further cuts were found. "For the Aaa rating to remain in place, we...