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The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
In finance and investing, Black Monday 2011 refers to August 8, 2011, when US and global stock markets crashed [1] following the Friday night credit rating downgrade by Standard and Poor's of the United States sovereign debt from AAA, or "risk free", to AA+. [2] It was the first time in history the United States was downgraded. [3]
On August 5, 2011, Standard & Poor's credit rating agency downgraded the long-term credit rating of the United States government for the first time in its history, from AAA to AA+. In contrast with previous ratings, the agency assumed in the base case scenario that the tax cuts of 2001 and 2003 would not expire at the end of 2012, citing ...
But Standard & Poor’s downgraded the US credit rating by one notch the last time there was a serious debt-ceiling showdown, in 2011, when the government came within hours of defaulting on some ...
The Standard and Poor's rating agency is being closely watched for signs of another U.S. downgrade, from AA+ to AA, in the event the Super Committee fails to work out a deficit reduction plan.
In the midst of the very tense debt ceiling standoff of 2011, Standard and Poor’s downgraded US debt for the first time in history. That downgrade happened on a Friday afternoon, so investors ...
Five days, a stock market plunge, and a flurry of finger-pointing later, we're still trying to figure out what Standard & Poor's downgrade of U.S. Treasuries really means. Here are four points I'd ...
On August 5, 2011, the United States debt-ceiling crisis of 2011, the credit rating agency Standard & Poor's downgraded the rating of the federal government from AAA to AA+. It was the first time the U.S. had been downgraded since it was originally given a AAA rating on its debt by Moody's in 1917. [37]