Fitch Ratings late Tuesday made good on recent concerns about the U.S. credit profile and downgraded its rating on the nation’s debt one notch to AA+ from AAA, saying that it reflects “expected fiscal deterioration,” a “high and growing” government debt burden, and an “erosion of governance” in face of repeated debt-limit standoffs and other ills.
Fitch warned in June that it could take that step even as the latest debt-ceiling showdown ended in a last-minute deal to avert a government shutdown. The ratings agency initially…
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