Don't you wish taking a month off work would'nt negatively affect your credit score? With the latest government shutdown creeping into its second week, that seems to be the case with the United States' credit rating.
According to a report by Shan Li of the Los Angeles Times, neither the government shutdown or the looming debt ceiling issues will have any detrimental affect on the country's creditworthiness.
(According to Moody's Investors Service) which predicted last month that Congress would avoid a shutdown, said Monday that the United States would continue to pay off its debts no matter what happens with the budget impasse.
"The shutdown has no effect on the government's ability to pay interest and principal on its debt obligations," the report said, "and therefore does not directly affect the government's creditworthiness."
Moody's has said such short-term disruptions will not lead to a downgrade of the nation's AAA credit rating. Even a delay in raising the $16.7-trillion debt ceiling will not affect the country's rating, it said.
In 2011 during the last debt ceiling incident, the Standard and Poor credit rating firm downgraded the United States credit rating from AAA to AA+ for the first time. Other credit rating firms like Moody's and Fitch decided not to lower the rating, but noted that it could happen in three to five years.
So with both parties still relatively far apart and no end insight to the current shutdown, you might still have to worry about your credit rating, but at least you don't have to worry about Uncle Sam's.
