U.S. Gets a Debt Warning From Fitch as Stimulus Battle Rages
- Credit assessor revises outlook on AAA rating to negative
- Move comes after data show worst economic quarter on record
This article is for subscribers only.
One of the world’s major credit-rating companies fired a warning shot regarding the U.S.’s worsening public finances on Friday, just as lawmakers in Washington contemplate spending more to combat the economic fallout from the coronavirus pandemic.
Fitch Ratings revised its outlook on the country’s credit score to negative from stable, citing a “deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan.” The country’s ranking remains AAA.