Fitch puts U.S. credit rating on negative watch - Philadelphia News, Weather and Sports from WTXF FOX 29

Fitch puts U.S. credit rating on negative watch

Posted: Updated:

CHRISTOPHER S. RUGABER | AP Economics Writer

WASHINGTON (AP) — The Fitch credit rating agency has warned that it is reviewing the U.S. government's top rating on credit for a possible downgrade, citing Thursday's looming deadline to increase the nation's borrowing limit.

Fitch has placed its "AAA" U.S. credit rating on "rating watch negative," a step that would precede an actual downgrade. The agency said it expects to conclude its review within the next six months.

Fitch says it expects the debt limit will be raised soon, but adds, "the political brinkmanship and reduced financing flexibility could increase the risk of a U.S. default."

Fitch is one of the three leading U.S. credit ratings agencies, along with Standard & Poor's and Moody's. S&P downgraded U.S. long-term debt to "AA" in August 2011.

Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices