Fitch has affirmed the United States' AA+ credit rating with a stable outlook, supported by the nation's vast economic scale and the U.S. dollar's status as the world's primary reserve currency. However, persistently high fiscal deficits and a lack of substantive action from Washington to address the issue remain concerns. The current rating is one notch below the top-tier AAA level.

The agency stated on Thursday that the U.S.'s dynamic business environment and high per capita income also underpin the rating. Nevertheless, government debt levels have now surpassed twice the median of other AA+ rated countries. Fitch analysts noted that the U.S. government has yet to implement meaningful measures to tackle the large fiscal deficit, which, alongside heavy interest burdens and rising government debt, constrains the nation's credit rating.

Fitch forecasts that the U.S. fiscal deficit as a share of GDP will climb to 7.4% in 2026, up from 6.8% this year, driven by tax cuts and tariff refunds. The agency also expects the U.S. debt-to-GDP ratio to increase further, with rising interest costs accelerating debt growth. On Thursday, the U.S. government’s 30-year bond auction yield hit a 25-year high.