Fitch warns on US rating as debt ceiling looms

LONDON (AP) ? A leading credit ratings agency is warning that the United States could lose its top credit rating if there's a delay in raising the country's debt ceiling.

Congress has to increase the country's debt limit, effectively how much debt the U.S. can have, by March 1 or face a potential default.

David Riley, a managing director at Fitch Ratings, says Tuesday he is worried about a looming crisis and warned that a failure to raise it in time will prompt a formal review of the country's triple A rating. Fitch already has a negative outlook on the U.S. and said it will make a decision this year.

In August 2011, Standard & Poor's stripped the U.S. of its triple A rating after a protracted battle to raise the ceiling.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-01-15-US-Debt%20Rating/id-872f4c86d25f4c05a242dadb22c82c24

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