Economy/Business News Alert: S&P downgrades U.S. credit rating

---------------------------------------- Economy/Business News Alert: S&P downgrades U.S. credit rating August 5, 2011 8:30:22 PM ---------------------------------------- The United States credit rating was downgraded for the first time Friday night, after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation's growing spending, according to a person familiar with the matter. Standard & Poor's said it was reducing the U.S. credit rating from AAA to AA for the first time since it began assigning grades to countries in 1941. The credit rating agency warned several times this year that unless the government took steps to tame its debt, it could face a downgrade. http://link.email.washingtonpost.com/r/BZYGW4/NS1QMD/IF8GKS/F6FU9I/PKOMD/PJ/h For more information, visit PostBusiness.com ---------------------------------------- Get a unique daily review and analysis of the debt, deficit and economy debate. Sign up for Behind the Government Showdown: http://www.washingtonpost.com/ac2/wp-dyn?node=admin/email/express&action=subscribe&newsletter_code=GVTSHTDN ---------------------------------------- Get breaking news alerts sent to your mobile phone. Sign up by texting NEWS to 98999. To unsubscribe, click here ---------------------------------------- ©2011 The Washington Post Company Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, DC 20071