Fitch Threatens to Lower US Credit Rating

If debt deal isn't reached

Fitch Ratings warned that it would drop the top rating of the United States if the debt ceiling wasn't raised in a deal between the White House and reluctant Republicans.

"Fitch's warning comes as President Barack Obama and Republican leaders in Congress jostle over a vote to raise the country's borrowing limit," wrote the Wall Street Journal. "And just as the credit-rating firms are closely observing the action in Washington, lawmakers there—and investors around the world—are keeping an eye on the analysts who hold the fate of the U.S.'s credit rating in their hands. A lower rating could raise the country's borrowing costs or at least signal to investors that its fiscal house isn't in top shape."