Island of Guernsey

NEW YORK (AP) — It's the financial equivalent of a high medal count at the Olympics or a seat on the U.N. Security Council — a triple-A credit rating, the seal of approval that lets investors know a country's bonds are safe.The U.S. is one of a small number of nations with the coveted rating — for now. Moody's Investors Service warned this week that the government's massive debt burden could cost the country its triple-A.Yet the reaction from investors and the public has mostly been a shrug.The stock market was briefly rattled, then resumed its gradual climb. And ordinary folks didn't seem to notice a report raising the possibility that their children and grandchildren face a lower standard of living thanks to mounting government debt.A triple-A rating says a country is very unlikely to default on its debt. Like a homeowner with a good credit rating, countries with this exalted status get better interest rates when borrowing with notes and bonds.A downgrade often means they have to off...

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