Fitch Puts US Credit Rating on 'Negative' Watch

As lawmakers scramble to strike a last-minute deal that would allow the government to keep borrowing money, Fitch Ratings issued a shot across the bow this afternoon: It put the nation's AAA on a "negative" watch, reports MarketWatch, meaning a downgrade is possible unless things get resolved soon. "The prolonged negotiations over raising the debt ceiling (following the episode in August 2011) risks undermining confidence in the role of the US dollar as the preeminent global reserve currency, by casting doubt over the full faith and credit of the US." (Full text here.) The nation hits its debt-ceiling limit on Thursday. For the record, Fitch and Moody's still have the US at the highest AAA rating, though Standard & Poor's downgraded its rating during the 2011 crisis, notes Business Insider. (More Fitch Ratings stories.)