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Fitch Ratings has issued the starkest warning to date that the US will lose
its AAA credit rating unless acts to bring the budget deficit under control,
citing a spiral in debt service costs and dependence on foreign lenders.
Brian Coulton, the agency's head of sovereign ratings, said the US is
shielded for now by its pivotal role in global finance and the dollar's
status as the key reserve currency, but the picture is deteriorating fast
enough to ring alarm bells.
"Difficult decisions will have
its AAA credit rating unless acts to bring the budget deficit under control,
citing a spiral in debt service costs and dependence on foreign lenders.
Brian Coulton, the agency's head of sovereign ratings, said the US is
shielded for now by its pivotal role in global finance and the dollar's
status as the key reserve currency, but the picture is deteriorating fast
enough to ring alarm bells.
"Difficult decisions will have