Sean Egan: U.S. Downgrade Not Likely This Year

“Egan-Jones, the independent ratings agency that cut the U.S. sovereign credit rating twice in 2012, has no plans of further downgrading the country’s rating in 2013.

“This latest round [of fiscal cliff negotiations] indicates a sign of health. You have a major ideological clash going on in Congress and many people uncomfortable with it, but it is part of democracy. The more positive light is that we actually have a deal and can move forward,” Sean Egan, managing director of Egan-Jones, told CNBC.

“We’ve gotten a lot more comfortable about the U.S., and we probably won’t take additional negative actions for the foreseeable future,” he added…”

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