After the debt deal is done, I think the biggest suspense of the markets is whether the U.S. will get a downgrade from its current AAA rating by one or more of the three major credit rating agencies. Both Fitch and Moody's re-affirmed the U.S.'s Triple-A rating, albeit with a threat of possible future downgrade. It looks like Standard & Poor's (S&P) could be the lone holdout among the Big 3, but some think the major rating agencies would not act in such a 'politically incorrect' way.
Meanwhile, continuing its tradition of going against the Big 3 rating agencies, China's Dagong dealt a fresh downgrade to the U.S. from A+ to A despite the U.S. raising the debt ceiling and averting a default, while U.S-based Weiss already put the U.S. just two notches above junk.
So what happens if the United States does get a downgrade?
Read More: http://www.econmatters.com/2011/08/what-happens-if-us-gets-sovereign.html