Moody's Investors Service and Fitch Ratings said that the U.S. credit rating could still be lowered, if Congress does not reduce the debt and the economy slows further. While the rating agencies affirmed the top rating for the U.S., the outlook is now negative. The deal "is a positive step toward reducing the future path of the deficit and the debt levels," said Steven Hess, senior credit officer at Moody's. "We do think more needs to be done to ensure a reduction in the debt-to-GDP ratio, for example."

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