Fitch writes in a statement that “the downgrade reflects the expected deterioration of finances over the next three years, a high and growing national national debt and an erosion of power”.
According to Bloomberg, the US has had the highest rating since at least 1994.
In an initial comment, US Treasury Secretary Janet Yellen says she “strongly” opposes the downgrade.
“The change in Fitch’s rating is arbitrary and based on outdated information,” she writes in a statement.
The credit rating agency S & P downgraded the United States’ rating in 2011.