08 Aug '11, 4am

US govt official on S&P's downgrade of US credit rating: 'We didn't think they would actually do it'

WASHINGTON - The day after Standard & Poor's took the unprecedented step of stripping the US government of its top credit rating, the ratings agency offered a full-throated defence of its decision, calling the bitter standoff between President Barack Obama and Congress over raising the debt ceiling a "debacle". It warned that further downgrades may lie ahead. In an unusual conference call with reporters, senior S&P officials insisted the ratings firm had not overstepped its bounds by focusing on the political paralysis in Washington as much as fiscal policy in determining the new rating. "The debacle over the debt ceiling continued until almost the midnight hour," said Mr John Chambers, chairman of S&P's sovereign ratings committee. Another S&P official, Mr David Beers, added that "fiscal policy, like other government policy, is fundamentally a political process". But, rat...

Full article: http://www.todayonline.com/Hotnews/EDC110808-0000140/Stan...

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World digests US rating downgrade

World digests US rating downgrade

channelnewsasia.com 06 Aug '11, 4pm

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channelnewsasia.com 07 Aug '11, 2am

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straitstimes.com 06 Aug '11, 1am

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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...

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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...

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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...

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

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channelnewsasia.com 06 Aug '11, 11am

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asiaone.com 07 Aug '11, 1am

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