Fitch gives U.S. until 2013 to tackle budget deficit

11/28/2011 | Reuters

Fitch Ratings has warned that the U.S. could face a downgrade of its AAA rating if it does not come up with a "credible plan" to resolve its budget deficit by 2013. Fitch revised the U.S. credit rating outlook from stable to negative after the failure of the congressional deficit-reduction committee to reach an agreement. "The negative outlook reflects Fitch's declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path and secure the U.S. AAA sovereign rating will be forthcoming," according to Fitch.

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