U.S. AAA Credit Rating DOWNGRADED For First Time In History After Obama's Debt Deal -- Daily Mail
* Unprecedented move will send shockwaves globally
* S&P cuts long-term credit rating from AAA to AA+
* Borrowing costs for consumers and government to rise
* Comes after Obama signed bill to reduce fiscal deficit
The U.S. has lost its top-notch AAA credit rating from Standard & Poor's in an unprecedented reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's budget deficits and rising debt burden.
The huge move is likely to raise borrowing costs eventually for the U.S. government, companies and consumers.
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