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.