NEW YORK - The United States lost its
top-notch AAA credit rating from Standard & Poor's on Friday,
in a dramatic reversal of fortune for the world's largest
S&P cut the long-term US credit rating by one notch to
AA-plus on concerns about growing budget deficits.
US Treasuries, once undisputedly seen as the safest
investment in the world, are now rated lower than bonds issued
by countries such as the UK, Germany, France or Canada.
The outlook on the new US credit rating is negative, S&P
said in a statement, a sign that another downgrade is possible
in the next 12 to 18 months.
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