Fitch says 'fiscal cliff' may cost US 'AAA' rating

NEW YORK (AP) -- Fitch warned that the U.S. is more likely to lose its top-notch "AAA" rating if lawmakers cannot agree on how to cut the deficit and avoid the broad government spending cuts and tax increases that go into effect next year if no deal is reached.

But the credit ratings agency said in a report Wednesday that if lawmakers can agree on a deficit-cutting plan, the U.S. would likely keep its "AAA" debt rating. Fitch would then raise its outlook to stable from negative.


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