Why Moody's is 'confident' America won't suffer its first-ever default
CNN
Even though time is running out to get a debt ceiling deal through Congress, one of the key players that will decide the fate of America's credit rating is convinced disaster will be averted.
"We absolutely don't think there will be a scenario where we cross the X-date and interest payments will be missed," William Foster, senior vice president and senior credit officer at Moody's Investors Service, told CNN. "If we did, we would obviously have to change our view on the rating."
Just eight days remain before the government could run out of cash (the so-called X-date), but Foster said Moody's is "confident" the federal government will not suffer a first-ever default.
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