U.S. gets C credit rating, lower than MexicoSubmitted by Bob-45 on Thu, 04/28/2011 - 16:52
April 28, 2011, 1:59 p.m. EDT
U.S. gets C credit rating, lower than Mexico
Weiss judgment ‘attention-grabbing,’ says president of Egan-Jones
By Alistair Barr, MarketWatch
SAN FRANCISCO (MarketWatch) — The U.S. got a sovereign credit rating of C on Thursday, in line with ratings for such smaller economies as Mexico, Estonia and Colombia.
Weiss Ratings, based in Jupiter, Fla., has rated the creditworthiness of financial institutions for several years, but the firm launched sovereign- debt ratings of 47 countries on Thursday. The U.S. rating of C (Fair) ranks it 33rd, Weiss noted in a statement.
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The rating comes just over a week after Standard & Poor’s Rating Services revised the outlook on its AAA rating for U.S. government debt, cutting it to negative from stable. Read the story here.