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Fitch cuts credit outlook on U.S. from stable to negative Updated: 2020-08-01 13:02:23 KST

Global credit ratings agency Fitch has turned more negative on the outlook for the U.S. credit rating.
Fitch Ratings on Friday local time has revised the outlook on the U.S. to negative from stable while still maintaining a triple-A rating.
It said the decision reflects deteriorating credit strength, including rising fiscal deficits to finance stimulus to minimize the fallout from the pandemic.
Fitch also cited the absence of a credible fiscal consolidation plan.
The credit rating agency also said the future direction of the country's fiscal policy partly depends on November's presidential and congressional elections.
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