Excerpt:
Rating Action
On Aug. 5, 2011, Standard & Poor’s Ratings Services lowered its long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’.
The outlook on the long-term rating is negative. At the same time, Standard & Poor’s affirmed its ‘A-1+’ short-term rating on the U.S. In addition, Standard & Poor’s removed both ratings from CreditWatch, where they were placed on July 14, 2011, with negative implications.
The transfer and convertibility (T&C) assessment of the U.S.–our assessment of the likelihood of official interference in the ability of U.S.-based public- and private-sector issuers to secure foreign exchange for debt service–remains ‘AAA’.
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imahd.ca 
Thanks for stopping in, Tracy. If you tell us which topics you like best, perhaps we can suggest a post or two. Cheers.
you’re not living in the US right? just kinda stumbled on your blog and have been actively reading it all morning. i enjoy the discourse of this blog. just wanted to pop in here and say that this downgrade was a political debacle and should have never seen the light of day.
– tracy