Fitch Ratings Downgrades US Credit Rating: Fiscal Debt Issues Continuously Worsening US | Credit | Rating
On August 2nd, according to CBS, on the 1st local time, international credit rating agency Fitch Ratings downgraded the US credit rating from AAA to AA+, citing weak economic expectations.
Fitch Ratings stated that over the past 20 years, the US fiscal and debt issues have continued to worsen, with repeated political deadlocks caused by debt limits, weakening people's confidence in the US government's financial management. The downgrade also reflects expectations for the United States over the next three years.
On May 24th of this year, Fitch Ratings placed the United States on a "negative watch list", warning that it may downgrade its rating. The last time the United States faced a rating downgrade was in 2011, when Standard&Poor's announced that it would downgrade its AAA rated long-term sovereign debt rating by one level to AA+, with a negative outlook for the rating outlook.
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