WASHINGTON (AFP): Fitch has downgraded its credit rating for the United States, becoming the second of the top-three ratings agencies to strip the country of a top AAA rating. The impact upon the world’s top economy is likely to be just symbolic, at least immediately.

 What is a AAA credit rating ?

The AAA or “triple-A” rating is the highest rating that an agency gives to a country, locality or company concerning its ability to repay its debts.

The top three global ratings agencies: S&P Global, Fitch and Moody’s, use the same system of letters, ranging from a top AAA rating through B, C and D for payment defaults.

The ratings are intended to reflect the economic and/or financial health of a borrower. For countries, the agencies look at economic growth, tax revenue, government spending, deficits and debt levels to determining their ratings…Read More!

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