S&P: Further Downgrade for US is Possible

Standard & Poor's managing director John Chambers said Sunday there is a 'one in three chance' the U.S. credit rating would be downgraded again over the next six months to two years and that it would take some time for the United States to regain its AAA rating. "We have a negative outlook ... from six months to 24 months," Chambers said. "And if the fiscal position of the United States deteriorates further or if the political gridlock becomes more entrenched, then that could lead to a downgrade. The outlook indicates at least a one in three chance of a downgrade over that period." Chambers made the comments on ABC's 'This Week'.