The CEO of credit rating agency Moody's ruled out the chance of a U.S. government default, even if an agreement over raising the debt ceiling is not achieved by mid-October.
As the U.S. government shutdown looked set to continue for a sixth day on Monday, concerns that the ongoing political stalemate will cause the Treasury to miss its October 17 deadline for raising the $16.7 trillion borrowing limit, remained at fever pitch.
If the U.S. government defaults on its debt, it could have negative consequences for financial markets worldwide.
"It is extremely unlikely that the Treasury is not going to continue to pay on those securities," Moody's CEO Raymond McDaniel said in an interview
