The U.S. loses its top AAA rating from Fitch over worries about the nation's finances
Fitch cut the federal government's top rating, citing rising deficits and a steady deterioration in governance over the last two decades. The action drew a sharp rebuke from the Biden administration.
Updated August 1, 2023 at 8:58 PM ET
Fitch Ratings cut the United States' credit rating by one notch, from the top-rated AAA to AA+, saying rising deficits and political brinkmanship are imperiling the government's ability to pay its debts.
The downgrade comes two months after the Biden administration and House Republicans
