US Credit Rating Already includes Another Possible Shutdown, Fitch Says
- ‘Shutdown later this year can’t be ruled out’: Richard Francis
- Fitch cut the US’s AAA rating in August on governance concerns
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Fitch Ratings, which stripped the US of its top credit grade two months ago, said a potential government shutdown after Representative Kevin McCarthy’s ouster as House Speaker won’t have an effect on the nation’s rating.
The comments came after McCarthy lost his leadership post following a revolt by Republican party hardliners over his compromise with Democrats to avert a shutdown last weekend. Analysts, including those at Goldman Sachs Group Inc., said the ouster elevates the risk of a shutdown next month.