The Ripple Effects Of America’s New Credit Rating

Fitch Ratings sent shockwaves through the financial world last week when it unexpectedly downgraded the United States’ credit rating from AAA to AA+.

This represents only the second time in U.S. history that a ratings agency has taken this action, the first time being when Standard & Poor’s lowered its rating in response to the government’s handling of the 2011 debt-ceiling crisis.