Moody's warns of downgrade of U.S. credit raiting

A credit rating group is warning the U.S. federal government that if it cannot get its financial house in order, the credit ratings agency Moody's could once again downgrade the nation.

Credit ratings agencies issued similar warnings last year when Congress and the White House were haggling over the U.S. debt ceiling.

At the time, Moody's did not downgrade the U.S. But another one of the big three agencies did downgrade the nation.

Moody's says the course will likely be decided by the budget negotiations in 2013.

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