By | August 29 2012 4:00 PM

Hurricane Isaac was downgraded Wednesday afternoon to a tropical storm but continued to hover over Louisiana with heavy rains and damaging winds. The storm, which was a Category 1 hurricane for 24 hours, has since sustained weakened winds of 75 mph, the National Hurricane Center reported. The storm's latest recorded location was about 50 miles west-southwest of New Orleans, moving to the northwest at 6 mph.