Fitch downgrades US credit rating after debt limit standoffs
Fitch downgrades US’ credit rating by a step from the top-tier AAA to AA+. – EPA pic, August 2, 2023.
FITCH downgraded the United States’ credit rating by a step yesterday from the top-tier AAA to AA+, citing factors like an “erosion of governance” that has manifested in debt limit standoffs. “The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance” relative to peers, said Fitch in a statement.
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