I started a post quite a while ago about how Fitch put the US government on notice by changing their outlook on Treasuries to negative. Although Fitch still gives the US government a AAA, it will not continue to if the government continues to run budget deficits and if the economy doesn't grow fast enough to support the growth in government. So I just found this saved, incomplete blog entry and I figured I'd write a quick update. To my knowledge Fitch has not made a change since then.
Last summer, S&P downgraded US Treasuries to AA+. Moody's maintains it's Aaa rating of treasuries, but also holds a negative outlook.
Of course, we are in the deepest depression of America's history. Economic activity is slowing down because capital is being drained from productive uses to prop up bad assets, keep banks afloat, and fund a violent government. All the while, the national debt increases at faster rates each year and tax receipts to the government slow down. The ratings agencies are being pretty soft on the government, although those in the government likely think that they have been too hard on them. My rating of Treasuries is that they are junk (not worse - only because they are so liquid right now) and that my outlook is negative - they will eventually be worse than junk - in default.
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