Fitch Downgrades U.S. Government

BOSTON, MA, August 3, 2023 — On August 1, 2023, Fitch downgraded the United States’ sovereign long-term credit rating to AA+ from AAA. On August 2, they also downgraded Government Sponsored Enterprises (GSEs), including Fannie Mae, Freddie Mac, and the Farm Credit System. Federal Home Loan Bank remains on Rating Watch Negative and is still AAA. For index purposes the direct obligations of the above issuers will be rated AA+; major bond indices will implement that change August 31, 2023.

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