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Credit-rating agencies still threaten US debt recovery

As many had predicted, the deadlock over the US debt ceiling was broken at the very last moment.

On Monday night the House of Representatives approved the deal and Tuesday's senate vote is almost certain to go through.

But as the fears of a default on US debt are now receding, America faces the task of dealing with its huge deficit.

Credit-rating agencies have not yet commented on the deal, and their threat to downgrade the United States' credit rating remains.

Caroline Hepker reports.

  • 02 Aug 2011