![]() Source: Prinz Magtulis, REUTERSįitch had initially hinted at a possible downgrade in May and maintained that stance in June following the resolution of the debt ceiling crisis. This action came even though the debt ceiling crisis had been resolved two months ago.įitch's downgrade shifted the United States' credit rating from AAA to AA+, attributing this change to anticipated fiscal deterioration in the next three years and the recurring last-minute negotiations over the debt ceiling, which put the government's bill-paying capability at risk.Ĭhart Attribute: The chart illustrates that Fitch lowered the U.S.'s foreign currency rating to AA+ in 2023, mirroring a comparable action taken by S&P in 2011. government, a decision that was met with anger from the White House and caught investors off guard. On Tuesday (August 1), credit rating agency Fitch lowered the top credit rating of the U.S. Source: MeanieHyaena, Wikimedia Commons ![]() ![]() Cover Image Attribute: 2015 file photo of the US Treasury building in Washington, DC.
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