MM123: Apple & Amazon earnings explained and why the US downgrade shouldn't come as a surprise!
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The Politics of Ratings
Fitch predicts $733 billion in U.S. debt default by end of the year. The agency says a triple A rating signifies that an entity is considered extremely credit worthy and has a very low risk of defaulting on its debts. While Fitch says a double A rating is denote expectations of very low default risk, that is de facto a step down from the quote, lowest expectation of default risk.
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