Wed | Jun 16, 2021

US triple A credit rating under review

Published:Wednesday | October 16, 2013 | 10:37 AM

Ratings agency Fitch has put the US triple A credit rating under review for a downgrade as the deadline to raise the US borrowing limit draws closer.

The move comes after Democrats rejected a plan by the Republican-led House of Representatives as an attempt to appease a small group of conservatives.

Hours later, House Republicans revised their proposal and planned to put it to a vote, but even that was called off.

The US must raise its $16.7 trillion debt limit by tomorrow or risk default.

US Treasury spokeswoman Brandi Hoffine says the Fitch announcement reflects the urgency with which Congress should act to remove the threat of default hanging over the economy.


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