Debt standoff could cost US its AAA rating

FITCH Ratings put the United States on notice Wednesday that its perfect credit rating could be jeopardized if the White House and Republican opposition fail to overcome their impasse on raising the nation's borrowing limit, a week before a key deadline.

Fitch placed the country's AAA-ranked credit on "rating watch negative" — a move it said "reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit" before June 1.