11/29/2011

Fitch Ratings 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 country's credit rating outlook from "stable" to "negative" after the congressional deficit-reduction committee failed 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," the credit rating agency said.

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