Fitch’s downgrade of the US sovereign follows the cut by S&P in 2011, leaving Moody’s as the only major rating company keeping its top-tier grade for the world’s largest economy. Fitch said the cut reflects expected fiscal deterioration and a growing government debt burden after repeated debt-limit standoffs.
The fallout from Fitch Ratings’ downgrade of the US puts the focus on the countries still holding onto the coveted top credit grade.
Economies with the highest credit rating at S&P Global Ratings, Fitch and Moody’s Investors Service include Germany, Denmark, Netherlands, Sweden, Norway, Switzerland, Luxembourg, Singapore and Australia. Canada is rated AAA by two of the ratings companies.
