When: Today, Friday, August 5th at 4:25pm ET
Where: CNBC's "Closing Bell with Maria Bartiromo"
Following is an unofficial transcript of breaking news from CNBC's Kate Kelly. For more information on this story, go to: http://www.cnbc.com/id/44039103.
All references must be sourced to CNBC.
KATE KELLY: WELCOME BACK TO CLOSING BELL I'M KATE KELLY WITH SOME BREAKING NEWS. WE UNDERSTAND FROM SOMEONE FAMILIAR WITH THE MATTER THAT THE U.S. GOVERNMENT IS EXPECTING A POSSIBLE CREDIT RATING DOWNGRADE AS EARLY AS THIS AFTERNOON. THE GOVERNMENT HAS BEEN BRACING FOR THIS POSSIBILITY IN THE RECENT DAYS. THEY THINK IT COULD HAPPEN AS EARLY AS TODAY WE ARE TOLD AND THE COMPANY INVOLVED WOULD PROBABLY BE S&P. THE MARKET HAS BEEN TRADING ON SPECULATION ABOUT A POSSIBLE S&P DOWNGRADE THROUGHOUT THE DAY. A LOT OF VOLATILE ACTIVITY TODAY. S&P WE SHOULD SAY HAS DECLINED TO COMMENT ON THE SITUATION ON ANY POSSIBLE PLANS AN ANNOUNCEMENT THIS AFTERNOON BUT THE MARKET HAS BEEN EXPECTING TO HEAR SOMETHING AND WE NOW UNDERSTAND FROM A SOURCE FAMILIAR WITH THE MATTER AGAIN THAT THE U.S. GOVERNMENT IS BRACING FOR THE POSSIBILITY QUITE IMMINENTLY. SO MARIA WE WILL BE TRACKING THIS AS SOON AS WE GET MORE DETAILS WE WILL COME RIGHT BACK TO YOU.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD+, CNBC is the recognized world leader in business news providing real-time data, analysis and information to more than 390 million homes worldwide. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m.- 8:00 p.m.) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC.com and CNBC Mobile Web (mobile.cnbc.com) offer real-time stock quotes, charts, analysis and both on-demand and live streaming video.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/mediavillage/networks/cnbc/