Difference between revisions of "Standard and Poor's"
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| − | '''Standard and Poor's''' is a credit rating service with a 150-year history of providing independent, quality assessments of how likely a company or government is to honor its financial obligations. | + | '''Standard and Poor's''' (S&P) is a credit rating service with a 150-year history of providing independent, quality assessments of how likely a company or government is to honor its financial obligations. |
| − | + | S&P downgraded the United States' credit rating from AAA to AA+ on August 5, 2011.<ref>[http://www.foxnews.com/politics/2011/08/06/credit-ratings-agency-defends-downgrade-us-debt/ Credit ratings agency defends downgrade of US debt]</ref> While this shows how the liberal policies of the Obama administration have failed us, it is important to note that S&P is one of the rating agencies that gave mortgage derivatives AAA ratings, which contributed to the current financial crisis. | |
| − | [[category: | + | |
| + | ==References== | ||
| + | <references/> | ||
| + | [[category:Finance]] | ||
Revision as of 06:27, August 7, 2011
Standard and Poor's (S&P) is a credit rating service with a 150-year history of providing independent, quality assessments of how likely a company or government is to honor its financial obligations.
S&P downgraded the United States' credit rating from AAA to AA+ on August 5, 2011.[1] While this shows how the liberal policies of the Obama administration have failed us, it is important to note that S&P is one of the rating agencies that gave mortgage derivatives AAA ratings, which contributed to the current financial crisis.