Fitch cuts US credit rating after debt limit battle

Fitch downgraded the United States’ credit rating on Tuesday after “repeated debt-limit standoffs and last-minute resolutions” eroded the agency’s confidence in the government’s ability to manage its debts.

The change has surprised financial markets and drawn strong criticism from both the White House and the US Treasury.

What did Fitch say?

The American agency lowered the US from the highest AAA credit rating to AA+, saying it reflects an expected fiscal deterioration over the next…