Standard and Poor's have just down grated USA Goverments credit rating from AAA to AA+.This as led to negative reaction on world stocks even after President assured investors that USA will not default it debt .USA goverment had been warned by rating agencies it must set a new borrowing limit.so that it could reduce it debt .
Standard and Poor's underlined that US has too much debt and weak economy.JAPAN has been downgraded by Moody's causing alot of panic in Asian market to this recovering nation from the effect of earthquake.
In Europe Greece Spain Portugal have been down graded and mast of them need to be bail out .and recently Moody's downgraded two banks in France
