US rating reduced at Aaa with a negative outlook

Following the decision to raise the USA debt limit, Moody's Investors Service confirmed, on 02.08.2011, the Aaa rating of the United States,  but assigned a negative outlook that could pressure lawmakers to further cut the US budget deficit. China central bank governor Zhou Xiaochuan welcomed US progress in dealing with its debt problems but urged Washington to take more concrete and responsible measures to bolster confidence in US treasuries. China will continue to diversify its foreign currency investments and strengthen risk management to minimize the impact of the global financial market's fluctuations on China. China considers that efforts to raise the US debt ceiling had failed to defuse Washington's "debt bomb", and that it would further diversify its currency holdings away from the dollar. China's Dagong Global Credit Rating Co., unknown outside its country, but striving to compete with Moody's, Fitch and Standard & Poor's has downgraded the USA from A+ to A, showing the gloomy perspective of the US borrowing rates in Asia and world-wide. The emergency legislation signed by President Barack Obama boosting the debt ceiling and avoiding country default does not change the fact that US debt growth outpaced its economy and fiscal revenue.