US AAA RATING DOWNGRADED

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STORY: US AAA RATING DOWNGRADEDDATELINE: Aug 6, 2011LENGTH: 0:02:24LOCATION: WashingtonINTROOne of the top credit rating agencies, Standard & Poor's, has downgraded the top-notch triple A rating for the United States for the first time ever adding to growing concerns over the U.S. government's growing budget deficits. The move followed months-long political wrangling in Washington over raising the country's debt ceiling. World News reports.PKGStandard & Poor's on Friday cut the long-term credit rating for the world' s largest economy by one notch to AA+, sending down the rating of U.S. Treasuries, once seen as the safest investment in the world, lower than bonds issued by countries such as the UK, Germany, France or Canada.The move came after rumors circulated earlier about the downgrade.The agency further said the outlook on the new credit rating is negative, in a sign that another downgrade is possible in the next 12 to 18 months.U.S. media on Friday quoted unnamed U.S. officials as
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