WSJ: "S&P Downgrades U.S. Credit Rating for First Time in Modern History"

From the Wall Street Journal:

Standard & Poor's took the unprecedented step of downgrading the U.S. government's AAA sovereign credit rating Friday in a move that could send shock waves through global financial markets and potentially undermine world economic growth.

S&P cut its top-notch long-term credit rating for the U.S. Treasury's debt to AA+ with a negative outlook. It is the first time in modern history that one of the three main ratings firms has stripped the U.S. of its coveted AAA rating.

It was previously reported that a mathematical error discovered late Friday by Treasury Department officials threw into limbo plans for a downgrade.

It was the first time in ever. News from the Washington Post,  The Hill, Politico, and Bloomberg News.

H/T JR