Fitch keeps United States at 'AA+', cites economic resilience amid fiscal risks

Fitch on Thursday affirmed ​the sovereign credit rating for the United States ​at "AA+" with a stable outlook, citing its large economy, high per-capita income and the U.S. dollar's status as the world's leading reserve currency.

The U.S. ‌economy remained ⁠resilient ⁠despite higher tariffs, government spending cuts, tighter border controls and heightened policy uncertainty, ​reflecting its ability to absorb shocks and economic flexibility, the credit ​ratings agency said.

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Fitch, however, estimated economic growth of 1.9% in 2026-2027, lower than the 2.8% in 2025, and noted ​weakening labor demand and a significant slowdown ⁠in job ‌creation this year.

Inflation remains a concern, with ​the agency ​expecting it to average 3.4% in 2026, above ⁠the Federal Reserve's 2% target. Tariffs have added ​to core goods inflation, though their impact has ​been less severe than expected.

Fitch expects the general government deficit to widen to 7.4% of GDP in 2026 and remain at that level in 2027, the highest among "AA"-rated sovereigns. Higher military and interest costs, along with rising ‌Medicare and Social Security spending, would limit efforts to reduce the deficit.

Peer S&P Global also maintained ​its "AA+" rating ​on the ⁠U.S. in June, citing the economy's resilience and strong institutions.

Fitch had downgraded the U.S. sovereign rating by one notch from the top-tier ​triple-A rating in 2023, pointing to expected fiscal deterioration and repeated down-to-the-wire debt ceiling negotiations.

Moody's downgraded the U.S. by one notch last year, citing rising debt levels and stripping the country of its last remaining triple-A rating.