Breaking News Bar
updated: 8/2/2011 10:06 PM

Chinese agency downgrades US credit rating

hello
Success - Article sent! close
 
Associated Press

BEIJING -- A little-known Chinese ratings agency has downgraded the rating of the United States from A+ to A. The move is unlikely to affect U.S. borrowing rates but reflects the pessimism Washington's debt battle has generated worldwide.

President Barack Obama signed emergency legislation to boost the debt ceiling ahead of a deadline to avoid an unprecedented national default.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Still, China's Dagong Global Credit Rating Co. said Wednesday that the deal doesn't change the fact that U.S. debt growth has outpaced its economy and fiscal revenue.

Dagong is little-known outside China but hopes to compete with global ratings agencies Moody's, Standard & Poor's and Fitch.

Moody's has said the U.S. will retain its highest bond rating but with a "negative" outlook.

Share this page
    help here