Fitch to review U.S. sovereign rating by month-end
Fitch to review U.S. sovereign rating by month-end (by Michael Kitchen)
LOS ANGELES (MarketWatch) -- Fitch Ratings said late Monday that it would conclude a review of U.S. sovereign credit ratings by the end of November, in light of the congressional supercommittee's failure to reach a bipartisan deal to cut the federal debt. Fitch cited its previous statement in August that "failure by the supercommittee to reach agreement would likely result in a negative rating action -- most likely a revision of the rating outlook to negative, which would indicate a greater than 50% chance of a downgrade over a two-year horizon." It said a one-notch downgrade was possible but "less likely."