US economy rating down to AA +

August 06, 2011 12:53
US economy rating down to AA +

obamaDealing a further blow to the sliding US economy, its leading credit rating agency Standard & Poor’s has downgraded the country’s ‘AAA’ sovereign credit rating  to AA + .

The unprecedented move is likely to reduce the confidence of investors in US economy. The credit rating agency said in a statement that the fiscal plan which Congress and the Administration recently agreed to would fall short of what would be necessary to stabilize the government’s medium-term debt plans.

However, other prominent credit rating agencies – Moody’s Investors Service and Fitch Ratings reassigned the AAA credit ratings for the US economy even as President Barack Obama signed a bill to end the debt-ceiling crisis that pushed the Treasury to the edge of default.

If you enjoyed this Post, Sign up for Newsletter

(And get daily dose of political, entertainment news straight to your inbox)

Rate This Article
(0 votes)