The Latest Breaking News from Fitch Ratings

Former treasury secretary Larry Summers says downgrade when economy is looking stronger than expected is “bizarre and inept”.

Fitch Ratings has downgraded the U.S. credit rating, citing an expected increase in government debt over the next three years and a “steady deterioration in standards of governance” over the past two decades

The credit rating agency holds meetings with officials to assess the impact on economy and high-tech investments.

Fitch Ratings has affirmed Thailand's long-term foreign-currency issuer default rating (IDR) at BBB+ with a stable outlook. Among the key ratings drivers are:

Fitch Ratings believes there is significant interest and momentum in Thailand's virtual bank application process, even though the timeline has been extended.

The performance of Thai corporations should gradually improve this year as the domestic economy recovers and inflationary pressures ease, according to analysts at Fitch Ratings' 2023 Thailand Corporate Credit Outlook & Asean ESG conference in Bangkok recently.

This is primarily because of a stronger outturn in the first quarter and near-term momentum. Read further on Dynamite News:

Fitch Ratings on June 22, 2023 raised its forecast for India’s economic growth to 6.3% for current fiscal year 2023-24 from 6% it had predicted previously

RECAP: Asian markets mostly rose on Friday but investors remained on edge heading into the weekend amid concern that US debt-ceiling negotiations could still break down.

Lawmakers are not expected back in Washington until Tuesday, two days before Treasury Secretary Janet Yellen predicts the U.S. won’t have funds to pay its bills.

Fitch Ratings late Wednesday placed the United States ‘AAA’ long-term foreign-currency issuer default rating (IDR) on rating watch negative. Fitch said the watch negative reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit despite the fast-approaching date when the U.S. Treasury exhausts...