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America’s AAA Rating Is Cut in Land of Bubbles: William Pesek

Moody’s Investors Service, Standard & Poor’s and Fitch Ratings can’t be happy.

Last week, the world’s credit-rating giants got scooped on the biggest rating decision: whether to strip the U.S. of AAA status. Worse, the U.S. was downgraded by a company that few people have ever heard of, and a Chinese one at that.