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Fitch Catches Flak For Oddly-Timed U.S. Credit Downgrade

From investopedia.com

Fitch Ratings' downgrade of the U.S. government’s credit rating is being met with pushback from officials and well known economists, while others said it highlighted the need for the government to reduce spending deficits. On Tuesday evening, Fitch became the second major credit agency ever to downgrade the credit rating of the U.S. The agency notched U.S. creditworthiness to AA+ from the highest-possible AAA rating it previously held.1 Fitch Ratings. "Fitch Downgrades the United States' Long-Term Ratings to 'AA+' from 'AAA'; Outlook Stable." The agency cited the growing national debt and the pattern of repeated ... (full story)

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