US credit downgraded to AA status The latest drop in the U.S. Credit rating as Egan-Jones downgrades the U.S. credit rating for the second time in 9 months. www.youtube.com/watch?v=LwghayqlaYs This article was published on April 6, 2012 Credit rating agency Egan Jones downgraded the United States Thursday on concern over the sustainability of public debt. Egan Jones is one of the most important ratings firms in the world; they lowered our credit level from AA+ to AA. The firm reduced America from AAA to AA+ in July 2011, just before Standard & Poor's did the same. nation.foxnews.com/us-credit-rating-downgrade/2012/04/06/egan-jones-downgrades-us-credit-rating This article was published on April 5, 2012 Egan-Jones Cuts U.S. Rating One Step to AA Citing Growing Debt The downgrade was based on "the increasing debt load coupled with the fact that there has been no tangible progress in addressing the country's growing debt to GDP" ratio. www.bloomberg.com/news/2012-04-05/egan-jones-cuts-u-s-rating-one-step-to-aa-citing-growing-debt.html This article was published on June 8, 2012 Big U.S. Banks Brace for Downgrades Expected Moody's Actions Already Having Ripple Effects; Review of Five of Six Largest U.S. Firms. Banks, bond issuers and investors are bracing for aftershocks from a wave of bank downgrades expected to hit the U.S. as soon as the coming week. Moody's Investors Service has said it is likely to reduce by the end of June credit ratings for 17 large global banks, including five of the six biggest U.S. financial firms by assets. The downgrades are expected to raise borrowing costs and crimp some lucrative trading businesses at the banks, including at J.P. Morgan Chase & Co., Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley. online.wsj.com/article/SB10001424052702303296604577454284259305826.html?mod=WSJ_hp_LEFTWhatsNewsCollection

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