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Fitch cuts U.S. credit outlook to negative

(Reuters) – Fitch Ratings on Monday warned it may cut the United States’ AAA rating if policymakers fail to agree in 2013 on a plan to reduce the country’s ballooning budget deficits.

The ratings agency revised to negative from stable the outlook on the U.S. credit rating after a special congressional committee failed last week to agree on at least $1.2 trillion in deficit-reduction measures.

Read the whole story at Reuters.