Once again PSN is down and this time the error code is CE-34861-2 which means connection to the server is failing. Sony has given us an update and said “PSN is currently offline, and we are hard at work to resume service. At this time an estimate as to when PSN will be online is unavailable; however, we will update this article as soon as there’s additional information. If you would like to receive a notice when PSN is fully restored, be sure to follow the official PlayStation Twitter account and our support Twitter account,@AskPlayStation”.
At the time this article is written PSN is still down and it is unknown when it will be back up.