05 August 2011

Bond rater drops American credit rating

From the Globe, in a story that Standard and Poor’s had lowered the United States government’s rating from AAA to AA Plus:

“The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” S&P said in a statement.

- srbp -