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Thread: U.S. Rating Outlook Cut to Negative by Fitch

  1. #1
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    U.S. Rating Outlook Cut to Negative by Fitch

    From Bloomberg.com:

    The U.S. lost its last stable outlook from the three biggest credit-ranking companies after Fitch Ratings lowered the nation to negative following a congressional committee’s failure to agree on deficit cuts.
    Fitch’s outlook on the U.S., which it still assigns its top AAA grade, reflects “declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path will be forthcoming,” making the probability of a downgrade greater than 50 percent over two years, the company said yesterday in a statement. Standard & Poor’s and Moody’s Investors Service said Nov. 21 that the so-called supercommittee’s inability to reach an agreement didn’t merit downgrades because the inaction will trigger $1.2 trillion in automatic spending cuts.
    U.S. Rating Outlook Cut to Negative by Fitch - Bloomberg

    The bottom line is that political posturing, excuses to avoid difficult choices, and policy inaction have consequences. The Supercommittee's effective decision was to do nothing. That has raised further concern about the capability of the American political system and contemporary political leaders to make the tough decisions necessary to put the nation on a fiscally sustainable course. For now, market concern is growing that the U.S., not unlike many nations before it, may not have the ability or willingness to address its fiscal challenges.

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    Re: U.S. Rating Outlook Cut to Negative by Fitch

    Good.........

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