March 26, 2020 / 9:00 PM / 10 days ago

Fitch affirms U.S. amid coronavirus outbreak, flags 'deep contraction'

March 26 (Reuters) - Global credit rating agency Fitch Ratings on Thursday affirmed the United States’ long-term foreign currency issuer default rating at ‘AAA’ with a stable rating outlook, amid the ongoing coronavirus outbreak.

The shut down of parts of the U.S. economy in the outbreak will cause a “deep contraction centered on second-quarter 2020” and a massive increase in unemployment, Fitch said.

Reporting by Kanishka Singh in Bengaluru; Editing by Sandra Maler

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