Fitch Ratings placed the U.S.’s pristine triple-A rating on watch for downgrade Tuesday as the federal government runs short on time to raise the nation’s borrowing limit. The Fitch warning comes as the House and Senate work on competing plans to raise the U.S.’s borrowing limit and fully reopen the federal government. The Treasury Department, which has used extraordinary steps to continue paying its bills for roughly two weeks, says it will exhaust those powers on Thursday…Fitch said a failure by the government to honor interest or principal payments on U.S. Treasury securities would lead it to downgrade the U.S.’s sovereign issuer-default rating to “restricted default.” It would also slash the affected issues to B-plus from triple-A. [WSJ]
- 15 Oct 2013 at 5:33 PM
- 28 Nov 2011 at 5:47 PM
Fitch’s outlook on the U.S., which it still assigns its top AAA grade, reflects declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path will be forthcoming, the company said in a statement today. Standard & Poor’s and Moody’s Investors Service said Nov. 21 that the so-called supercommittee’s inability to reach an agreement didn’t merit a downgrade because the inaction will trigger $1.2 trillion in automatic spending cuts…“In terms of additional information, a Fitch negative outlook doesn’t seem that significant,” Guy LeBas, chief fixed- income strategist at Janney Montgomery Scott LLC in Philadelphia, said before the announcement. “A negative outlook from Fitch just adds one more voice to the chorus of a slowly deteriorating U.S. fiscal situation.” [Bloomberg]
- 28 Aug 2014 at 8:00 AM
Football is back, and 1-week fantasy juggernaut DraftKings.com is offering a guaranteed $5,000,000 in prizes.
DraftKings has a special offer for Dealbreaker readers—make a first time deposit and get free entry into a $100,000 contest.
Or if you’re a high roller, you can pay $200 to compete for $1,000,000 in prizes in the NFL Sunday Million contest.
So what is 1-week fantasy? On DraftKings, it’s simple. You draft a new team every time you want to play. Choosing from the list of available players, you pick the best possible team under DraftKings’ allotted salary cap. Payouts are instant and completely secure, and DraftKings is 100% legal.
Click on any of the links in this article to claim your free entry into the DraftKings $100,000 Week 1 contest.
- Fitch May Or May Not Downgrade U.S. October 15, 2013
- Swiss Bankers Suddenly Bashful About Listing "Sparkling Water," "Hooker For Client" On Expense Reports August 29, 2014
- Every Second Of Jefferies CEO's Ice Bucket Challenge Is Better Than The Last August 27, 2014
- Kyle Bass Not Entirely Thrilled With Paul Singer At The Moment August 28, 2014
- Get Ready To Hear "I'll Have My Assistant Make A Reservation At Denny's" A Lot More Often August 29, 2014
- Horror In The Hamptons: Rosé Shortage Edition August 27, 2014
- Opening Bell: 08.29.14 August 29, 2014
- You Now Have Two Ways To Evaluate Mortgage-Backed Securities August 29, 2014
- Write-Offs: 08.29.14 August 29, 2014
- If Chris Rokos Isn’t Allowed To Lose $383 Million At Brevan Howard, He Should Damn Well Be Allowed To Lose It Somewhere Else! August 27, 2014
- Executive Editor
- Bess Levin
How Can We Help You?
- Send tips to:
- For tech issues email:
- For advertising or events email:
- For research or custom solutions email:
- Dealbreaker is published by Breaking Media.
For a full list of our sites, services and staff visit breakingmedia.com