Fitch sounds the alarm on US debt as it revises outlook of world’s largest economy

Fitch ratings agency revised its outlook on the US’ AAA rating to negative as the world’s largest economy’s national debt topped $26.5 trillion (Dh97tn) in June and it continues to grapple with the coronavirus health crisis.

Though the country’s AAA rating was not changed, the revision in outlook is a reflection of “the ongoing deterioration in the US public finances and the absence of a credible fiscal consolidation plan”, the ratings agency said.