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S&P downgrades U.S. credit rating to AA-plus

08-06-2011 08:43 BJT

New York, Aug. 5 (Xinhua) -- Standard & Poor's downgraded on Friday the credit rating of the United States from its top-notch AAA rating to AA-plus only days after the Obama administration narrowly escaped an unprecedented debt default.

S&P drops the long-term U.S. credit rating on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than government bonds issued by countries such as the UK, Germany, France or Canada.

 

China's Dagong downgrades U.S. credit rating to A from A+

Chinese rating agency Dagong Global Credit Rating has cut America's credit rating from A-plus to A. It is the first rating agency in the world to downgrade the country's credit rating. <Full story>

 

 

Responses to U.S. raising debt ceiling:

China urges U.S. to protect interests of its treasury investors

Zhou is urging America to take responsible measures to properly deal with its debt issues in a bid to protect the interests of investors in U.S. treasuries... full story>>

 

 

China may diversify forex portfolio

China, the largest foreign holder of US debt, is faced with the challenge of diversifying a massive foreign exchange portfolio endangered by a weakening dollar... full story>>

 

 

Studio interview: Should China diversity forex holdings against downgrading of U.S. credit rating?

What can China do to protect its foreign reserves, mostly made up of US Treasuries? Invest elsewhere? Where...full story>>

 

 

Asian nations welcome US debt solution

Many countries here in Asia are major holders of US Treasuries, so their economies are closely linked to that of the US... full story>>

 


 

Americans skeptical on US debt deal

The agreement made in Washington to cut more than $2 trillion in spending and raise the amount the U.S. government can borrow, is getting far from a resounding thumbs up from average citizens... full story>>

 


 

Market expectations & reactions:

Crossover: Market reactions & expectations for U.S. central bank after deal

The US debt ceiling has been raised. What's the reaction been in the US? We're joined by our corespondent Nathan King in New York... full story>>

Wall Street drops on economic concerns after Washington debt deal

The Wall Street closed sharply lower on Tuesday after Washington debt battle as investors lost confidence on economic recovery, with the S&P 500 hitting the lowest point for the year... full story>>

Asian stocks fall amid US debt worry

Stock markets across East Asia are down on worries about a possible cut to the US debt rating... full story>>

S.Korean financial markets fall into panic on U.S. double-dip concerns

South Korea's financial markets fell into panic on Wednesday due to renewed concerns that the U.S. economy may enter into double-dip recession... full story>>

 

Analyses of impacts of US debt crisis:

China: Impact of US debt crisis on China

According to some experts, the main impact for China lies in the import and export sectors which are closely related to the Reminbi's exchange rate against the dollar... full story>>

 

China: US debt crisis's impact on China's investment

we're joined in the studio by Xu Sitao, Chief China representative for The Economist Group. What impact will the US debt crisis have on China's investment in the US... full story>>

 

U.S.: Impact of debt deal on Obama administration and U.S. economy

The US will be going to the polls for a presidential election next year, so what impact will the debt deal have on the Obama administration and the US economy? Let's turn to Professor Richard Cooper in the studio... full story>>

World: US debt deal's impact on global economy

The world economy has suffered a lot throughout their negotiations. So what impact do you think the debt crisis will have on the global market? we are joined by Doctor Liu Youfa, vice president of the China Institute of International Studies... full story>>

 

Challenges remain ahead:

U.S. debt deal raises future concerns

The problem is far from being solved. The US debt crisis has worsened, especially in recent years... full story>>

Relief short-lived, bigger cuts needed to resolve U.S. debt problem

A last-minute deal on the US debt ceiling brings welcome relief, but further negotiations involving much bigger cuts will be needed to resolve America's debt problem... full story>>   

Interview: US debt crisis over or postponed?

Is the crisis now over or simply postponed? Could you outline the challenges which lay ahead? We are joined in the studio by Professor Richard Cooper from International Economics at Harvard University... full story>>

Studio interview: How does U.S. get out of the vicious circle of using new debts to repay old ones?

A last minute deal to raise the debt ceiling, but as we just heard, the US' debt problem is far from over. Essentially, the US is using new debt to repay old debt. How does it get out of that vicious cycle... full story>>

 

 

Editor:Zhang Pengfei |Source: Xinhua

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