×

Trump's tax cut plans may pressure US credit rating: Fitch

Fitch Ratings offices in New York.
Cem Ozdel | Anadolu Agency | Getty Images
Fitch Ratings offices in New York.

U.S. President-elect Donald Trump's plans to slash taxes could threaten the country's triple-A credit rating over the medium term, the head of EMEA sovereign ratings at the Fitch agency said on Thursday.

"We do see increasing medium term pressures (on the U.S. rating)," Ed Parker said at the agency's annual credit outlook conference.

"Even before elections the U.S had highest level of government debt of any triple-A country. If we add on top of that Trump's plans to cut taxes by $6.2 trillion over the next 10 years that could add around 33 percent to U.S. government debt," he added.