US Debt Rating Not In Danger For Now, Analysts Believe

Fears about a downgrade of the US sovereign credit rating are premature, but not entirely unwarranted after Britain's outlook was cut to negative by Standard & Poors, analysts told CNBC.

Stocks continued to wobble Friday amid worries about the outlook for the US debt rating. The US market bounced around between positive and negative territory, while Europe moved higher and Asia declined.

"I just see this as perhaps S&P doesn't have the nerve to downgrade the US or to put the US on watch, and so it's doing it to the UK. So this is really a warning shot across the bows of the US, and I think that is big news, actually," Giles Keating, head of research at Credit Suisse, told "Squawk Box Europe."

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