Triple-A credit rating

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Fitch Threatens Downgrade If Debt Deal Is Too Weak

Meanwhile, Pat Toomey introduces backup bill

(Newser) - The US credit rating is once again in danger thanks to a debt ceiling showdown. Fitch today announced that it may downgrade the US even if lawmakers manage to strike a deal, CNN Money reports. Fitch already has a negative outlook on the US' AAA rating, and said that would... More »

Moody's Cuts EU Outlook to Negative

Triple-A rating in danger, agency says

(Newser) - The European Union has somehow kept a triple-A credit rating throughout a years-long debt crisis—but maybe not for much longer. Moody's has lowered the bloc's outlook from stable to negative and warned that a downgrade could be on the way, reports the BBC . The ratings agency earlier... More »

S&P to Put Euro Zone on Credit Watch

Announcement likely after markets close

(Newser) - A person familiar with the matter says Standard & Poor's is examining the credit rating of all 17 euro zone countries for a possible downgrade as the continent's debt crisis lingers. The person said today that S&P is likely to make an announcement on putting the euro... More »

Fitch Hacks US Debt Outlook After Super Committee Fails

Downgrade of AAA rating could loom

(Newser) - Thanks to the super committee’s super failure, Fitch Ratings has downgraded US debt outlook to negative. Fitch did not lower the US’ AAA rating for long-term treasuries, but a Fitch official says a negative debt outlook often leads to such a downgrade. That decision is not expected until late... More »

Fitch Reaffirms AAA Rating

Also says outlook on US ratings is stable

(Newser) - Take that, Standard & Poor's: Fitch Ratings says it will keep its rating on US debt at the highest grade, AAA, and says its outlook on the US ratings is stable. Fitch cited the United States' "flexible, diversified, and wealthy economy," as well as its flexibility in... More »

SEC Probing S&P Downgrade

But analysts say proving insider trading violations would be difficult

(Newser) - The SEC wants to know who knew about S&P's decision to downgrade the United States credit rating before it happened, as part of a very initial look at whether insider trading violations occurred, reports the Financial Times . Those involved in the case say the investigation isn't based... More »

Guess Who Hiked Taxes to Bolster His State's S&P Rating?

Romney lobbied S&P, bragging of increased taxes and revenues

(Newser) - Back in 2004 when he was governor of Massachusetts, Mitt Romney successfully lobbied Standard & Poor's to upgrade the state's credit rating by bragging the state had raised taxes in the state during an economic downturn, reports Politico . Last week, in the face of the first-ever downgrade to... More »

Feds Can't Fix Economy: Poll

New survey shows many of us agree with S&P

(Newser) - Another day, another poll about how much we hate Congress . This latest poll shows, in particular, that just one in four of us believes the federal government can fix the economy. That's down 21 points from October, notes the Washington Post . And a whopping 71% of respondents believe S&... More »

Daily Show's Advice to Obama: 'Go Blacker'

Larry Wilmore says it's too late for prez to fight the stereotype

(Newser) - America's credit downgrade is being called the "Obama downgrade," and Larry Wilmore—the Daily Show 's "senior black correspondent"—isn't happy about it. "America finally gets its first black president, and our credit goes bad. F***!" The GOP must love this,... More »

Stewart on S&P: Are You Effing Serious?

Exodus to 'freshly downgraded Treasuries' stuns Daily Show host

(Newser) - Jon Stewart was left dumbfounded by Standard & Poor's downgrading of America's credit rating , not so much by the rationale behind leaving the US with worse credit than Finland, Australia, Singapore, and even the Isle of Man, but by the reaction of financial institutions: "Flushing their money... More »

Battered Dow Ends Down 635

US' downgraded credit rocks Wall Street in punishing session

(Newser) - The Dow Jones plummeted under 11,000 today, dropping 635 points as the United States' downgraded credit rating punished the markets. The drubbing took the Dow down 5.55% to 10,810, reports MarketWatch . The Nasdaq and S&P 500 bled more, shedding 6.90% and 6.66% respectively. More »

S&P Downgrades Fannie and Freddie, Too

And any other agencies linked to long-term US debt

(Newser) - Standard & Poor's has downgrade fever. The ratings agency today downgraded the credit ratings of mortgage lenders Fannie Mae and Freddie Mac and a host of other agencies linked to long-term US debt, including farm lenders; long-term government-backed debt from 32 banks and credit unions; and three major clearinghouses,... More »

Dow Dives Below 11K on Downgrade

Dow loses 135 points at open, now down more than 500

(Newser) - Investors reacted to the S&P's US credit rating downgrade and Europe's debt woes today exactly the way you'd expect: They panicked. Stocks started low, and have sunk ever deeper throughout the day. As of 2:26pm EST, the Dow was down a whopping 600 points, taking... More »

Obama: We'll Always Be AAA

President addresses downgrade with optimism

(Newser) - Barack Obama did his best to reassure the country after the Standard & Poor’s downgrade of the US credit rating. S&P pulled the trigger “not so much because they doubt our ability to pay our debt,” Obama explained , but because “they doubted our political system’... More »

S&P's Ratings Are Worthless

Nate Silver runs the numbers, and scoffs at ratings firm

(Newser) - Don’t put too much stock in Standard & Poor’s much ballyhooed credit ratings—because they’re astonishingly bad. Nate Silver of the New York Times ran an analysis on S&P’s ratings from five years ago, and found that, had you heeded them, they “would have... More »

Moody's: We Still Might Downgrade US, Too

Credit agency insists on more cuts

(Newser) - Moody’s may have already reaffirmed America’s AAA credit rating , but it released a statement today reiterating that that could still change. If the US doesn’t find more deficit reductions pronto, it could face a downgrade before 2013, the agency warned, according to Reuters . Analyst Steven Hass wrote... More »

S&P: Oh, We Might Downgrade US Again

Worried partisanship will block meaningful debt reform

(Newser) - Standard & Poor's yesterday not only defended its decision to downgrade America's once-vaunted AAA credit rating for the first time, it warned that a second downgrade could be on the way if the US doesn't get its act together. “Compared to some other highly rated governments,... More »

GOP's 'Political Insanity' Caused S&P Downgrade

Downgrade not about numbers as much as GOP extremism

(Newser) - Standard & Poor's downgrade of America's credit rating represents a new factor in America's creditworthiness—"political insanity," writes Edmund Andrews in the National Journal . Indeed, Andrews notes that S&P explicitly cited politics in its downgrade: “The political brinksmanship of recent months highlights... More »

Standard & Poor's Made the Right Decision

S&P may be flawed, but that doesn't make it wrong on this one: Klein, Gandel

(Newser) - Standard & Poor's is taking a lot of criticism today of the how-can-these-geniuses-lecture-us variety. Kind of like this . All of it is warranted, writes Ezra Klein at the Washington Post . After all, the folks at S&P "didn’t just miss the bubble," he writes. "They... More »

Clueless S&P Has No Right to Pass Judgment

Krugman: Mortgage mess shows ratings agencies aren't qualified

(Newser) - Paul Krugman blames the "extremism of anti-tax Republicans" for pushing the nation into this credit rating mess , but he finds it a little hard to see Standard & Poor's as the wise elders in the room. "It’s hard to think of anyone less qualified to pass... More »

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