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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.)

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