“Dagong lowered its ratings for U.S. local and foreign currency credit from A to A-, maintaining a negative outlook, the agency said in a statement.  The announcement came after the U.S. Congress passed and President Barack Obama signed a bill that extends the nation’s borrowing authority and ends a two-week government shutdown. ‘The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged,’ Dagong said in the statement, adding Washington’s solvency was vulnerable as old debts were still repaid through raising new debts.”

http://www.rawstory.com/rs/2013/10/17/china-downgrades-u-s-credit-rating-and-accuses-lawmakers-of-holding-world-hostage/

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