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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]
In August 2011, S&P downgraded the long-held triple-A rating of US securities. [1] On August 1, 2023, Fitch downgraded its credit-rating of United States Treasuries from AAA to AA+, as S&P had twelve years earlier, leaving only Moody's to still assign its highest rating to the country's debt.
Fitch Ratings lowered its rating to AA+ from AAA in August, and Standard & Poor's downgraded the U.S. in 2011. A reduced outlook, however, raises the risk that Moody's could eventually strip its ...
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 ...
In 2011, the ratings agency Standard & Poor’s stripped the U.S. of its prize AAA rating after a prolonged fight over the government's borrowing limit. The Government Accountability Office, in a ...
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]
There may not be any lasting major negative ramifications from the surprise US credit rating downgrade by Fitch this week — not for the economy, not for consumers and not for the government’s ...