AFP - Rating agency Fitch put the United States on warning for a downgrade after Congress failed to reach a deal on raising the country's debt ceiling.
Fitch placed the United States's top-grade AAA rating on a "negative watch", citing the possibility the Treasury could default on its obligations after October 17 if the ceiling is not raised.
"The US authorities have not raised the federal debt ceiling in a timely manner," Fitch said.
"The US Treasury Secretary has said that extraordinary measures will be exhausted by 17 October, leaving cash reserves of just $30 billion.
"Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financing flexibility could increase the risk of a US default."
Credit to France 24
No comments:
Post a Comment