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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:06 PM
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Fitch warns of US downgrade over deficit
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Source: Financial Times

Fitch warned it could downgrade the US credit score if no credible agreement was reached over the next two years to curb the countrys mounting debt, as it placed a negative outlook on Americas triple-A rating.

The move aligns Fitch with other rating agencies that have already punished the US for the political gridlock that has prevented any long-term fiscal deal from emerging following months of negotiations in Washington.

Standard & Poors downgraded the US in August to a double A plus rating with a negative outlook, while Moodys Investors Service has preserved Americas triple A score but also imposed on it a negative outlook.

The latest blow to hopes of a long-term deficit reduction agreement in the US came last week when a special bipartisan panel of lawmakers known as the supercommittee failed to reach a deal to save at least $1,200bn from US deficits over the next 10 years.

Read more: http://www.ft.com/cms/s/0/aafaa8ae-1a10-11e1-9888-00144...



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