World

Fitch cuts U.S. credit rating

NEW YORK
2023-08-02 09:31

Already collect



NEW YORK, Aug. 1 (Xinhua) -- Credit ratings agency Fitch on Tuesday downgraded the U.S. government's credit rating over concerns about "growing debt burden" and "an erosion of governance."

Fitch, one of three major independent agencies that assess creditworthiness, lowered the U.S. credit rating from the top-notch AAA to AA+.

In a separate statement, Treasury Secretary Janet Yellen said she "strongly" disagreed with the downgrade, calling it "arbitrary and based on outdated data."

The downgrade came as the first by a major ratings company in more than a decade and amid another round of political brinkmanship over government borrowing.
Add comments

Latest comments

Latest News
News Most Viewed