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‘Vindicating’: An Analyst Who Lowered the U.S.’s Credit Rating in 2011 on Fitch’s Downgrade

‘Vindicating’: An Analyst Who Lowered the U.S.’s Credit Rating in 2011 on Fitch’s Downgrade

When Nikola Swann heard that Fitch Ratings had removed the United States from its list of risk-free borrowers this week, he felt a sense of satisfaction.

“It was vindicating,” he says.

More than a decade ago, Swann played a key role in a similar decision: He was Standard & Poor’s primary analyst for its sovereign credit rating on the United States when the agency became the first ever to downgrade the nation’s long-term credit rating…


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