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The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government's credit worthiness, a move that ...
Fitch Ratings has downgraded the United States government's credit rating, citing rising debt at the federal, state, and local levels and a “steady deterioration in standards of governance ...
The last time the US debt was downgraded by another major credit rating agency, S&P, came in 2011. In both cases, the limit was raised only after protracted negotiations.
In August 2011, S&P downgraded the long-held triple-A rating of US securities. [1] On August 1, 2023, Fitch downgraded its credit-rating of United States Treasuries from AAA to AA+, as S&P had twelve years earlier, leaving only Moody's to still assign its highest rating to the country's debt.
The delay in raising the debt ceiling resulted in the first downgrade in the United States credit rating, a sharp drop in the stock market, and an increase in borrowing costs. Congress raised the debt limit with the Budget Control Act of 2011 , which added to the fiscal cliff when the new ceiling was reached on December 31, 2012.
The U.S. had its credit rating downgraded by ratings agency Fitch on ... 800-290-4726 more ways to reach us. Sign in. Mail. ... What Fitch's downgrade of the U.S. government means for taxpayers ...
On January 15, 2013, Fitch Ratings warned that delays in raising the debt ceiling could result in a formal review of its credit rating of the U.S., potentially leading to it being downgraded from AAA. Fitch cautioned that a downgrade could also result from the absence of a plan to bring down the deficit in the medium term.