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In July of 2001, Standard and Poor's (S&P) cut the finance rating of Argentina. S&P did likewise to the U.S. rating 10 years later (2011). There was uproar in the halls of Congress within this even though arguably, the less credit rating could attended much rather quickly. To make matters worse, U.S. credit agencies granted pristine ratings to mortgage-backed securities of heyday. Fitch, another credit agency, is warning of further action against the U.S. 12 months.
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