Friday, August 5, 2011

S+P lowers US credit rating

The S and P lowered the US credit rating from AAA to AA+ between midnight and 1am saturday morning on Aug. 6th.  This could cause bond rates to go up. This may make money more expensive to borrow. There are 3 credit bureaus, this is just one of the ratings. Mahendra did say this was likely to happen.

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