Ratings agency Fitch on Tuesday (Aug 1) downgraded the US government's top credit rating to AA+ from AAA, citing an expected fiscal deterioration over the next three years as well as a high and growing general government debt burden. The downgrade follows a debt ceiling agreement in June that came after mo
Ratings agency Fitch on Tuesday downgraded the US government's top credit rating to AA+ from AAA, citing an expected fiscal deterioration over the next three years as well as a high and growing general government debt burden.
"In Fitch's view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025," the rating agency said in a statement. US Treasury Secretary Janet Yellen said she disagreed with Fitch's downgrade, in a statement that called it"arbitrary and based on outdated data."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ratings firms struggle to quantify climate risks in bond marketClimate variables have marginal influence on sovereign ratings, even when they're statistically significant. Read more at straitstimes.com.
Read more »
France says it will evacuate its citizens from Niger on TuesdayThe coup has raised fears for the security of the Sahel region. Read more at straitstimes.com.
Read more »
Five key changes to regulations on the use of the Singapore flagThe National Symbols Act and Regulations, which provides a framework to promote the appropriate use of the national and presidential symbols, comes into effect on Tuesday.
Read more »
Nurse stays by side of the dying, which she could not do for her dadNurses Day falls on Tuesday. Read more at straitstimes.com.
Read more »
Military helicopters deliver aid to Beijing flood victimsBEIJING: China deployed military helicopters on Tuesday (Aug 1) to deliver supplies to stranded train passengers in Beijing, state media reported, after deadly rainstorms wreaked havoc in the Chinese capital.
Read more »
Thousands urged to evacuate in southern Japan ahead of typhoonMore than 500 flights were cancelled on Tuesday. Read more at straitstimes.com.
Read more »