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Credit Rating Agency Affirms ‘AAA’ Rating For United States After Debt Ceiling Deal

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CREDIT:

After threatening that even a short-term default would endanger the United States’ creditworthiness, the credit rating agency Fitch affirmed today that the debt ceiling deal approved by Congress today makes the risk of default “extremely low” and “commensurate” with the nation’s prized AAA rating. If the United States had been downgraded, it would have resulted in higher interest rates and billions of dollars every year in higher interest payments.