Getty Images Holdings Inc., the parent entity, did not make the scheduled payment on its 14% and 9.75% senior unsecured notes as it evaluates balance sheet management initiatives. ^[1] S&P Global Ratings downgraded Getty Images Inc. to CCC from CCC+ and placed all ratings on CreditWatch with negative implications after the company missed an interest payment on its senior unsecured notes on Thursday. ^[2] President Donald Trump threatened to halt trade with every country that runs a surplus with the United States unless the Federal Reserve cuts interest rates. ^[3] Wall Street is packaging data center income into bonds, creating a market where investors are repaid from rent and service fees after expenses like electricity are covered. ^[4] Fitch Ratings maintained Qatar's sovereign credit rating at AA. ^[5] Fitch Ratings removed Qatar from its 'Rating Watch Negative' list on Friday. ^[6] If Getty Images fails to make its interest payments within the 30-day grace period, S&P would lower the issuer credit rating to SD and the affected issue-level ratings to D. ^[7] S&P lowered the issue-level ratings on the senior secured debt to CCC+ from B- and the senior unsecured debt to CCC from CCC+. ^[8] The president does not set interest rates, and the central bank's Federal Open Market Committee does not set trade policy. ^[9] Trump published a 183-word post on Truth Social stating 'LOWER THE RATE OR I'LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT.' ^[10] In February, S&P assigned an A(sf) rating to Sabey Data Center Issuer's $475 million 2026-01 notes, backed by real estate and tenant lease payments. ^[11] S&P affirmed the United States at AA+ with a stable outlook in June, one notch below the top. ^[12]