August 2, 2023
4 Minute Read
Fitch Downgrade Highlights Deteriorating Fiscal Outlook
Fitch Ratings surprised market participants late Tuesday by downgrading the sovereign credit rating of the U.S. Government from AAA to AA+, citing “expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance…over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions.” Fitch left…