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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.
A city with a high credit rating would be able to issue bonds that are purchased with much lower rates. S&P said its outlook for San Francisco is negative given the city's financial challenges.
On the first trading day after the downgrade the S&P 500 plummeted by 6.5%. Markets experienced their most volatile week since the global financial meltdown in 2008, and it took another six months ...
The company will not reach its goal of increasing Max production to 38 planes a month by the end of 2024," S&P said. S&P estimates the strike is costing Boeing more than $1 billion per month.
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. [10]
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S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities.
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