WASHINGTON (Pakistan Point News / Sputnik - 02nd August, 2023) Fitch Ratings downgraded the credit rating of the United States from Triple-A to Double-A, citing fiscal deterioration over the next three years in the world's largest economy.
"The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to 'AA' and 'AAA' rated peers over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions," Fitch said in a statement on Tuesday.
