A senior analyst at Fitch warned on Tuesday that the credit rating agency may be forced to slap dozens of American banks with downgrades amid ongoing woes in the U.S. banking industry.
Blackstone CEO Steve Schwarzman said Friday that the decision by Fitch Ratings to downgrade the U.S. long-term credit rating is regrettable but justified, in large measure due to the out-of-control government spending that keeps adding the the federal debt load.
The United States has taken a major hit as Fitch Ratings has lowered its Long-Term Foreign-Currency Issuer Default Rating for the country from AAA to AA+.