Fitch just downgraded the U.S. credit rating — how much does it matter?
The U.S. is no longer rated at the top-notch AAA by Fitch. Here's what credit ratings are, and why they (mostly) matter.
In the financial world, it's akin to the gold standard: AAA, three letters meant to denote the safest possible investment.
The U.S. had proudly held to that top-notch debt rating for decades, reflecting its status as the world's biggest — and safest — economy, one that has never defaulted on its debt obligations.
But on Tuesday, Fitch Ratings cut the U.S. debt by one notch, from AAA to AA+, partly in response to how the federal government handled the debt crisis two months ago. That move mirrored a similar
