Most companies aren't planning to change their short-term investment strategy following this week's downgrade of the U.S. by Standard & Poor's, but a quarter of financial professionals are now saying that S&P's action makes the U.S. a less desirable place for capital investment, according to a survey by the Association for Financial Professionals (AFP).

The survey, conducted onAugust 9-10, asked five questions focused solely on possible impacts to corporate investment strategies and access to capital—noton the validity of S&P's analysis.

"What we are hearing this week is far different from what finance pros were telling us in June," saidJim Kaitz, AFP's president and CEO. "While the U.S. may still be the best place to park idle cash, some companies think the U.S. isn't the best place to deploy strategic cash. That means they may look elsewhere when expanding their business or hiring staff. "

KEY FINDINGS

• A quarter of financial professionals say that S&P's action makes the U.S. a less desirable place for capital investments (and hiring, etc.)
• 40 percent of survey respondents anticipate access to (cost of) capital will be detrimentally impacted by S&P's decision
• Despite S&P's decision and despite the extreme market volatility, companies still see Treasury securities as an important investment vehicle in a portfolio that is designed primarily to protect principal