MoodyÕ CEO rules out chance of government default

The CEO of credit rating agency Moody’s denied the chance of a government default, even if raising the debt ceiling is not achieved by mid-October. Per CNBC:

"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 with CNBC.

"Hopefully it is unlikely that we go past October 17 and fail to raise the debt ceiling, but even if that does happen, then we think that the U.S. Treasury is still going to pay on those Treasury securities," he added.