Ratings agency Fitch Ratings have downgraded the US debt rating from the highest rating of AAA to AA+, citing 'a steady deterioration in standards of governance'.The downgrade was issued shortly after financial markets closed trading earlier today and has been criticized as being 'arbitrary' by the Secretary of the Treasury.The move could mean that borrowers are less likely to lend money to the federal government on favorable terms, potentially having an impact on taxpayers.
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