15 Oct 2013
Fitch places the U.S. on credit watch negative
FXstreet.com (Barcelona) - Breaking news that the United States' AAA IDR rating may but be cut by Fitch is depressing risk even further as markets transition from NY into Asia, amid no tangible progress being made in the U.S. political scene to avoid a default.
According to Fitch rating agency: "Fitch Ratings has placed the United States on Rating Watch Negative on the high risk that US authorities will not raise the debt ceiling in a timely manner before the Treasury exhausts extraordinary measures on 17 Oct."
Fitch adds: " The ratings of all outstanding U.S. sovereign debt securities have also been placed on RWN, as has the U.S. Short-term foreign currency rating of 'F1+'. The Outlook on the Long-term ratings was previously Negative. The U.S. Country Ceiling has been affirmed at 'AAA'. Fitch expects to resolve the RWN by the end of Q114 at the latest, although timing would necessarily reflect developments and events, including the duration of any agreement to raise the debt ceiling."
According to Fitch rating agency: "Fitch Ratings has placed the United States on Rating Watch Negative on the high risk that US authorities will not raise the debt ceiling in a timely manner before the Treasury exhausts extraordinary measures on 17 Oct."
Fitch adds: " The ratings of all outstanding U.S. sovereign debt securities have also been placed on RWN, as has the U.S. Short-term foreign currency rating of 'F1+'. The Outlook on the Long-term ratings was previously Negative. The U.S. Country Ceiling has been affirmed at 'AAA'. Fitch expects to resolve the RWN by the end of Q114 at the latest, although timing would necessarily reflect developments and events, including the duration of any agreement to raise the debt ceiling."