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The US is unlikely to see its long-term credit rating return to AAA any time soon, ratings agency S&P has said. Its comments came as it downgraded the state-backed mortgage giants Fannie Mae and Freddie Mac because of their "direct reliance on the US government". It also lowered ratings for clearing houses and other institutions linked to long-term US debt from AAA to AA+. Late on Friday, the agency downgraded the US's top-notch AAA rating for the first time in its history.