National news borrowing rise threatens AAA status
National news Borrowing rise threatens AAA status Britain's coveted AAA rating has come under further pressure after official figures showed another leap in public sector borrowing.
A day after Standard & Poor's took the unprecedented step of downgrading the creditworthiness of the US government to AA from AAA, the ratings agency offered a full-throated defence of its decision, calling the bitter standoff between President Barack Obama and Congress over raising the debt ceiling a ``debacle'' and warning that further downgrades may lie ahead.