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Moody’s warns of downgrade if agreement is not reached

Moody’s investor service warned on Tuesday that if the United States does not come up with a creditable plan to address the budget deficit, a downgrade in the United State’s credit rating may occur – again.

Moody’s stated further that if a downgrade occurs, the credit rating of states that have a close tie in to the federal government will be looked at.    States such as Virginia that have significant military related work may be reviewed and downgraded.