Credit rating agency Fitch changes US outlook to negative | NOW

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Credit rating agency Fitch changed the United States’ creditworthiness outlook from stable to negative on Friday. For the time being, the United States will retain its AAA rating.

The credit rating agency bases the negative outlook on the growing budget deficit and the lack of financial resources to address the corona crisis.

According to Fitch, the rising government debt affects the traditionally high creditworthiness of the US.

Although the country still retains the highest AAA rating for the time being, a rating downgrade does not seem to be ruled out in the coming period.

The credit rating agency also underlines that US financial policy will depend to a great extent on the November Senate and Presidential elections.

When Republicans or Democrats fail to secure a clear majority in the Senate, a political stalemate seems plausible.

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