The rating agency cited 'expected fiscal deterioration over the next three years.'
The country's recent debt limit feud was mentioned again in Tuesday's downgrade.
Fitch also highlighted the rising general government deficit, which it anticipates will rise to 6.3% of gross domestic product in 2023, from 3.7% in 2022. "Cuts to non-defense discretionary spending as agreed in the Fiscal Responsibility Act offer only a modest improvement to the medium-term fiscal outlook," Fitch said.
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