Fitch slashed the US’s credit rating on Tuesday, but Goldman Sachs doesn’t see reason for concern.
After Fitch’s call, strategists from the bank led by Jan Hatzius published a note emphasizing that the report didn’t include any new information that could actually move markets.
The ratings agency downgraded the US’s long-term debt from AAA to AA+, pointing to this summer’s last-minute debt deal, rising government debt, and suspect long-term management.
Read More : US Debt Downgraded by Fitch; Goldman Sachs Plays Down Significance