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Fitch cuts US credit outlook to 'negative' due to budget loss amid Covid-19


"There is a growing risk that US policymakers will not consolidate public finances sufficiently to stabilize public debt after the pandemic has passed," said the statement

Fitch expected the US economy to contract by 5.6 per cent in 2020 and recover by 4 per cent in 2021

Fitch Ratings, a credit rating agency, said that it has lowered USA's economic outlook to "negative" from "stable" due to high budget deficits, but kept its overall rating at the highest "AAA" level.

The downgrade is due to the ongoing deterioration in the US public finances and the absence of a ...


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