"Fiscal cliff" significant risk to states: Fitch
(Reuters) - Fitch Ratings warned in a special outlook on Monday that the impending tax increases and federal spending cuts that make up the U.S. "fiscal cliff" is the most significant credit risk to states in 2013.
"The risk that the fiscal cliff presents to the overall economy is the biggest concern for state credit, as state revenue systems quickly reflect changing economic conditions," said Laura Porter, managing director at the rating agency, in a statement.
- Total CEO de Margerie killed in Moscow as jet hits snow plow |
- Pistorius starts five-year term for killing Reeva Steenkamp
- Ebola crisis turns a corner as U.S. issues new treatment protocols
- U.S. Congress examining deal between NSA official, ex-agency chief
- Fashion designer Oscar de la Renta dead at 82 |