Fitch downgrades US credit rating outlook

However, the US maintained its top AAA credit rating.

Fitch downgraded the outlook for the US sovereign credit rating from “stable” to “negative.” The reasons given are the deterioration of the budget situation and the lack of an adequate plan for fiscal consolidation.

The US budget deficit and public debt rose before the COVID-19 epidemic.

At the same time, the US maintained its highest AAA credit rating.