Fitch issues stern warning to the US

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Fitch Ratings on Tuesday affirmed the United States' AAA rating, but warned that the government must agree on deficit-reducing measures, or risk future "negative rating action".

The rating agency affirmed the long-term foreign and local currency issuer default ratings and Fitch-rated US Treasury security ratings at AAA. Fitch also affirmed the US country ceiling at AAA and the short-term foreign currency rating at F1+. The outlook on the long-term ratings is stable, Fitch said.

"The affirmation

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