Fitch’s US Credit Downgrade Sparks Criticism Along With Unease
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Bloomberg Originals
- Decision reflects expected fiscal deterioration, Fitch says
- Bond market shrugs off downgrade, eyes Wednesday US refunding
Updated on
Fitch Ratings’ downgrade of US government debt sparked criticism from Washington and Wall Street even amid unease that swollen fiscal deficits risk eventual turbulence in markets, the economy and next year’s presidential election.
Fitch cut the US’s sovereign credit grade one level from AAA to AA+. The move comes just two months after it warned the rating was under threat as lawmakers flirted with default by battling over raising the nation’s debt limit.
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Fitch’s US Credit Downgrade Sparks Criticism Along With Unease
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