Seven out of 10 financial services practitioners believe that the US remains attractive for investors, despite the country’s credit rating being downgraded for the first time, a Chartered Institute for Securities & Investment (CISI) survey shows.
Leading credit ratings agency Standard & Poor’s (S&P) cut the US standing by one notch in August, from AAA to AA+ with a negative outlook, over concerns about budget deficits. However, some respondents to the online survey feel the downgrade will have a positive effect.
One said it had “given the US the wake-up call that it needed which will result in more prudent financial decisions.”
“The downgrade has saved the US from itself and it is now a better investment than it has been since the start of the crisis,” argued the contributor.
Another supporter said: “The US is still the safest country for investors. It is the largest and most versatile economy, with strong laws for the protection of investors.”
Among the 30% of respondents who no longer consider the US a safe haven for investors, there were major concerns about the sustainability of its debt level.
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