Fitch downgrades US credit rating over rising debt, repeated standoffs ...Middle East

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Fitch Ratings downgraded the credit rating of the U.S. on Friday, saying the country's growing debt and repeated standoffs over the borrowing limit make it less trustworthy then before. Fitch downgraded the U.S. from a rating of "AAA" to "AA+" after several years of high-risk partisan battles over the debt limit. Those battles, Fitch said, have led to a spiraling national debt and a lack of faith in the U.S. government to handle it. "There has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025," Fitch wrote. "The repeated deb

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Last updated : 02 August 2023 clock 12:52 AM

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Fitch downgrades US credit rating over rising debt, repeated standoffs ...Middle East

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