Left Menu
Development News Edition

Fitch affirms U.S. amid coronavirus outbreak, flags 'deep contraction'

Reuters | Updated: 27-03-2020 02:27 IST | Created: 27-03-2020 02:27 IST
Fitch affirms U.S. amid coronavirus outbreak, flags 'deep contraction'

Global credit rating agency Fitch Ratings on Thursday affirmed the United States' long-term foreign currency issuer default rating at 'AAA' with a stable rating outlook, amid the ongoing coronavirus outbreak.

The shut down of parts of the U.S. economy in the outbreak will cause a "deep contraction centered on second-quarter 2020" and a massive increase in unemployment, Fitch said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Public health care post-COVID 19 to go for revamping, not rebooting

Until now, the economies used to classify healthcare sector under social expenditure. However, the devastation caused by COVID 19 pandemic has upgraded public healthcare on topmost priority and core economic activity for controlling future ...

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

COVID 19 to catalyze the redefinition of urban planning and sustainability

Until now the urban planning was focused on mitigation to natural disastrous, climate change, pollution, chronic illness and lifestyle diseases. However, the global pandemic of novel coronavirus is going to change the whole narrative of urb...

Videos

Latest News

Partisan divide returns in U.S. Congress on coronavirus next steps

Fresh partisan divisions flared on Sunday on the next steps for the U.S. Congress in dealing with the coronavirus crisis, with the top House of Representatives Republican casting doubt on the need for more economic stimulus legislation whil...

Goa: 2 more test positive for coronavirus, count reaches 5

As two more persons tested positive for coronavirus in Goa, the tally of such patients in the state reached five on Sunday. State Chief Minister Pramod Sawant told this to reporters here.Two more persons, who had been quarantined, have test...

Two Army personnel test positive for coronavirus

A doctor and a junior commissioned officer in the Indian Army tested positive for coronavirus on Sunday, official sources said. The Colonel-rank doctor is serving at the Command Hospital in Kolkata while the JCO is posted to an Army base in...

Maha lockdown: BJP RS MP seeks power bill relief for firms

BJP Rajya Sabha MP BhagwatKarad on Sunday wrote to Maharashtra Chief Minister UddhavThackeray asking him to waive fixed demand charges included inelectricity bills for industrial and commercial users as theseestablishments are closed due to...

Give Feedback