Stock markets dropped Monday in the first day of trading since the rating agency Standard & Poor's downgraded the U.S. credit rating from the stellar AAA rating, to the still-pretty-good-but-not-as-stellar AA+.
While the country's credit may not be the risk-free, sure-bet it once was, Massachusetts' credit rating has the potential to move in the other direction. Right now the state has a AA rating — lower than even the country's new AA+ rating. But as David Hitchcock explains, the state's rating is still pretty good, and has the potential to get even better.
- David Hitchcock, senior director, state and local governments group, Standard & Poor's
This segment aired on August 8, 2011.