- Fitch Ratings cut the United States’ long-term foreign currency issuer default rating to AA+ from AAA.
- The agency had placed the country’s rating on negative watch in May, citing the debt ceiling fight in Washington.
- “The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management,” Fitch said.
- U.S. stock futures opened lower Tuesday evening after the downgrade.
Full story: https://www.cnbc.com/2023/08/01/fitch-downgrades-us-long-term-ratings-to-aa-from-aaa.html