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Joined Nov 11, 2007
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S&P Ratings Agency Has a Horrible Record of Showing Possible Default

CRONKITE Fri Aug 12, 2011 10:09am EST Comments Off on S&P Ratings Agency Has a Horrible Record of Showing Possible Default

Out of 15 defaults 12 of those instances carried a B or better rating within a year of actual default. This rating only has a 2% probability of default.

What does this mean for the U.S. credit rating ?

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