EXCLUSIVE: Fitch downgraded the US credit rating due to fiscal concerns, a deterioration in US governance, and political polarization reflected partly by the Jan. 6 insurrection, Richard Francis, a senior director at Fitch Ratings, told Reuters
to AA+ from AAA on Tuesday, citing fiscal deterioration over the next three years and repeated down-to-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills.
"It was something that we highlighted because it just is a reflection of the deterioration in governance, it's one of many," he said. in their decision to cut the U.S. pristine rating, which they said at the time was due to heightened political polarization and insufficient steps to right the nation's fiscal outlook.
When asked about the timing of Fitch’s decision, Francis said the agency wanted to take some time after the recent debt deal to asses long-standing concerns around governance and the debt profile of the country.Francis said the decision to cut the country's top rating, which was taken on Monday, resulted from a worsening of the country's debt profile - for instance, the ratio between the U.S.
The latest debt ceiling suspension, agreed in June, will last until early 2025, when another political debate around the borrowing limit is likely, he added.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fitch downgrades US debt on debt ceiling drama and Jan. 6 insurrection | CNN BusinessFitch Ratings downgraded its US debt rating on Tuesday from the highest AAA rating to AA+, citing “a steady deterioration in standards of governance.”
Weiterlesen »
Fitch downgrades US debt rating | CNN BusinessJUST IN: Credit rating agency Fitch has downgraded the US rating from its highest AAA rank to AA+
Weiterlesen »
Fitch downgrades US credit rating, citing mounting debt and political divisionsThe U.S. credit rating has been downgraded by Fitch Ratings, which cited an expected increase in government debt over the next three years and a “steady deterioration in standards of governance” over the past two decades.
Weiterlesen »
Fitch slashes U.S. credit ratings to AA+ from AAA, points to ‘erosion’ of governanceFitch Ratings cut its top U.S. credit rating to AA+ from AAA on Tuesday, pointing to “erosion” of governance and the nation’s expected fiscal deterioration...
Weiterlesen »
Fitch downgrades U.S. credit rating after debt ceiling crisisCredit agency Fitch Ratings downgraded the trustworthiness of the U.S. government Tuesday, saying successive standoffs over the nation’s debt ceiling and rising federal debt have cast doubt on the country's ability to meet all its payment obligations.
Weiterlesen »
Fitch downgrades U.S. after debt limit stalemateTuesday's downgrade drew an immediate rebuke from Treasury Secretary Janet Yellen.
Weiterlesen »