Fitch Ratings Downgrades US Credit Rating from AAA To AA+

Fitch Ratings downgrades the US' sovereign credit grade from AAA to AA+.

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It has been done due to ballooning fiscal deficits and governance erosion, causing repeated debt limit emergencies in the past two decades

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Bloomberg reports: Fiscal deficits, governance erosion behind debt limit emergencies and downgrade

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Fitch's downgrade echoes Standard & Poor's 2011 move due to the government's borrowing limit, per Associated Press.

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Lower credit rating could raise the borrowing cost for the US over time

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Fitch Ratings Downgrades US Credit Rating from AAA To AA+

Fitch Ratings downgrades the US' sovereign credit grade from AAA to AA+.

It has been done due to ballooning fiscal deficits and governance erosion, causing repeated debt limit emergencies in the past two decades

Bloomberg reports: Fiscal deficits, governance erosion behind debt limit emergencies and downgrade

Fitch's downgrade echoes Standard & Poor's 2011 move due to the government's borrowing limit, per Associated Press.

Lower credit rating could raise the borrowing cost for the US over time

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