The US was stripped of its top-tier sovereign credit rating by Fitch Ratings, echoing a move made more than a decade ago by S&P.
The credit assessor downgraded the US from AAA, a ranking the nation has held at Fitch since at least 1994, according to data compiled by Bloomberg. The move comes in the wake of major political battles over the nation’s borrowing and repeated standoffs over raising the debt limit. While the most recent legislative impasse was resolved, it remains a potential issue of concern going forward.
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