People walk past the U.S. Capitol on election day in Washington November 2, 2010.    REUTERS/Jonathan Ernst    (UNITED STATES - Tags: POLITICS ELECTIONS)

People walk past the U.S. Capitol on election day in Washington November 2, 2010. REUTERS/Jonathan Ernst (UNITED STATES - Tags: POLITICS ELECTIONS) (Reuters)

Fitch: U.S. Rating Could Suffer in 2013 Without Credible Plan

Politics Reuters

Fitch Ratings reiterated on Thursday it would cut its sovereign credit rating for the United States next year if Washington cannot come to grips with its deficits and create a "credible" fiscal consolidation plan.

Continue Reading Below

"The United States is the only country (of four major AAA-rated countries) which does not have a credible fiscal consolidation plan," and its debt-to-GDP ratio is expected to increase over the medium term, said Ed Parker, sovereign ratings analyst, speaking at a Fitch conference in New York.