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Fitch Ratings has downgraded the National Long-Term Ratings of 10 Sri Lankan banks following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale.
Source: https://www.onlanka.com/news/fitch-downgrades-long-term-ratings-of-10-sri-lankan-banks.html
Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt at the federal, state and local levels and a “steady deterioration in standards of governance” over the past two decades.
Fitch Ratings lowered its rating to AA+ from AAA in August, and Standard and Poor’s downgraded the US in 2011.
Source: https://www.orissapost.com/moodys-lowers-us-credit-outlook-though-keeps-triple-a-rating/
Fitch Ratings said the key driver for its rating was governance, in the context of environment, social and governance metrics, which are nonfinancial factors.
Source: https://business.inquirer.net/381569/ph-launches-3-b-new-overseas-bond-offer
Futures for the Dow Jones Industrial Average fell after Fitch Ratings placed the United States’ top-rated bonds on a negative rating watch because of the impasse in negotiations to raise the debt ceiling.
In October, Fitch Ratings agency affirmed N4G at 'BB+' and said its base scenario assumed "full or near-complete shut-off of Russian pipeline gas to Europe and no payments from Gazprom."
Most Americans were not thinking much about their country’s fiscal mess last week as another criminal indictment of former president Donald Trump crowded out the news of a debt downgrade by Fitch Ratings.
Stock futures were falling sharply Wednesday after Fitch Ratings downgraded its rating on U.S. long-term debt one notch to AA+ from AAA.
“This partly reflected its revised estimate of 250 days of load-shedding in 2023, up from 100 previously, exerting a two percentage point drag on GDP growth in 2023, compared with an earlier estimate of 0.6 percentage points,” Fitch Ratings said.