USA credit rating outlook revised to negative from stable by Fitch

Bold move by the rating agency

The rating was affirmed at AAA but lowered to negative from stable. That’s how you get yourself a lawsuit.

  • Cites ongoing deterioration in public finances
  • Sees general debt to GDP above 130% by 2021
  • Expects deficit to narrow to 11% of GDP in 2021
  • Expects US economy to contract 5.6% this year
  • Statement

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