Monday, 18 July 2011

Egan-Jones downgrades US debt.

Egan-Jones, the "other" debt-rating agency dropped the US rating from AAA to AA+ this weekend.
               "We are taking a negative action not based on the delay
                 in raising the debt ceiling but rather our concern  
                 about the high level of debt to GDP in excess of 100% 
                 compared to Canada's 35%".  (Story at Zero Hedge).     

Sean Egan and Bruce Jones

Egan-Jones is investor-financed rather that issuer-financed.

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