07 Aug '11, 2am

S&P defends US downgrade as criticism mounts

WASHINGTON: Standard & Poor's stuck to its guns Saturday after a withering attack on its math skills and historical accuracy in the wake of its stunning first-ever downgrade of the US credit rating. In what appeared to be an effort to undermine S&P's credibility and counteract any negative effects of the downgrade, White House and Treasury officials accused S&P of making a $2 trillion error and misreading basic data in cutting the rating of the world's largest economy to AA+ from triple-A. Other critics have cited S&P's various upbeat assessments of companies and debt instruments weeks before they failed -- including the packaged mortgage securities that sparked the 2008 financial collapse. S&P officials, however, refused to budge while acknowledging the error. "It doesn't really change the facts on the ground," S&P ratings head John Chambers told CNN. "The facts on the gr...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

Tweets

World digests US rating downgrade

World digests US rating downgrade

channelnewsasia.com 06 Aug '11, 4pm

WASHINGTON: The United States and the world struggled on Saturday to come to grips with the first-ever US credit rating do...

Buffett says US downgrade 'doesn't make sense'

Buffett says US downgrade 'doesn't make sense'

straitstimes.com 06 Aug '11, 11pm

WASHINGTON - Investing guru Warren Buffett criticised the Standard & Poor's downgrade of the long-term US credit rating, s...

Welcome to Mongolia: What the S&P Downgrade Means for Emergi... via @justmeans

Welcome to Mongolia: What the S&P Downgrade Mea...

justmeans.com 07 Aug '11, 4am

"Nothing may change overnight, but the downgrade may eventually lead to stronger currencies and more fund flows for emergi...

Taiwan sees 'no impact' from US debt downgrade

straitstimes.com 06 Aug '11, 9am

TAIPEI - THE deputy governor of Taiwan's central bank sought to play down worries over the US debt downgrade on Saturday, ...

US lingered too long over debt ceiling: S&P off...

channelnewsasia.com 06 Aug '11, 3am

WASHINGTON: The United States could have avoided the downgrade of its credit rating if it had lifted its debt ceiling earl...

Taiwan sees 'no impact' from US debt downgrade: TAIPEI - The deputy governor of Taiwan's central bank sought to

Taiwan sees 'no impact' from US debt downgrade:...

asiaone.com 07 Aug '11, 1am

TAIPEI - The deputy governor of Taiwan's central bank sought to play down worries over the US debt downgrade on Saturday, ...

Impact of US downgrade uncertain, say analysts

Impact of US downgrade uncertain, say analysts

channelnewsasia.com 06 Aug '11, 6pm

WASHINGTON: Given the size of the US economy and the pre-eminent role of the dollar worldwide, the cut to Washington's cre...

India calls US downgrade 'grave': NEW DELHI - THE loss by the United States of its top-rank AAA credit rating f...

India calls US downgrade 'grave': NEW DELHI - T...

straitstimes.com 06 Aug '11, 11am

The loss by the United States of its top-rank AAA credit rating from Standard & Poor's has created a 'grave' situation, In...

US govt official on S&P's downgrade of US credi...

todayonline.com 08 Aug '11, 4am

WASHINGTON - The day after Standard & Poor's took the unprecedented step of stripping the US government of its top credit ...

India says US downgrade situation \\"grave\\"

India says US downgrade situation \\"grave\\"

channelnewsasia.com 06 Aug '11, 11am

NEW DELHI: The loss by the United States of its top-rank AAA credit rating from Standard & Poor's has created a "grave" si...

US downgrade 'sounds alarm bell': China state m...

straitstimes.com 07 Aug '11, 10am

BEIJING - STANDARD & Poor's US debt downgrade was a wake-up call for the world, a commentary in a top Chinese state newspa...

Taiwan keeps wary eye on US downgrade: report: TAIPEI - Taiwan, one of biggest foreign holders of US debt, on Su...

Taiwan keeps wary eye on US downgrade: report: ...

asiaone.com 08 Aug '11, 1am

TAIPEI - Taiwan, one of biggest foreign holders of US debt, on Sunday was keeping a close eye on developments after the US...

France total confidence in US despite #ratings downgrade

France total confidence in US despite #ratings ...

straitstimes.com 06 Aug '11, 11am

France has 'total confidence' in the solidity of the US economy, Economy Minister Francois Baroin told AFP, the first Euro...

S&P says France's outlook remains stable

channelnewsasia.com 07 Aug '11, 9am

PARIS: The Standard and Poor's ratings agency said Sunday that France's outlook remained stable amid a deepening eurozone ...

US loses AAA credit rating for first time

US loses AAA credit rating for first time

straitstimes.com 06 Aug '11, 1am

The United States' credit rating was cut for the first time ever Friday when Standard and Poor's lowered it from triple-A ...