Sunday, November 18th | 10 Kislev 5779

Subscribe
August 7, 2011 9:47 am

S&P Downgrades US Credit Rating

avatar by News Editor

Email a copy of "S&P Downgrades US Credit Rating" to a friend

WSJ – Standard & Poor’s unprecedented decision to strip the U.S. of its top credit rating was the downgrade heard around the world. S&P downgraded long-term U.S. debt to AA+ and put the new grade on “negative outlook,” meaning the U.S. could be downgraded again in the eighteen months to two years.

Friday night’s move dramatically showed that the unit of McGraw-Hill Cos. no longer believes long-term U.S. government debt is among the very safest investments in the world. S&P also veered away from its reputation during the financial crisis, when critics said the firm lost its independence.

Read full story

Share this Story: Share On Facebook Share On Twitter Email This Article

Let your voice be heard!

Join the Algemeiner

Algemeiner.com