US downgrade reprieve as Fitch affirms AAA rating

FITCH Ratings affirmed the United States’ top-notch credit rating at AAA, giving the world’s largest economy a reprieve after it was downgraded by Standard & Poor’s little more than a week ago.

Fitch said that the outlook for the rating was stable.

However, it warned that the US was falling behind its peers among the AAA-rated nations on fiscal matters and the country had to show tangible results in its efforts to reduce the budget deficit.