Raj Nair, Chairman at Avalon Consulting, shared his insights on the Fitch US Credit Rating downgrade from AAA to AA+ and its potential impact on the Indian market in a recent Businessworld feature.
Raj pointed out the well-recognized decline in US financial governance over the past two decades, with substantial borrowing and political decisions impacting debt management. Despite increased interest payments as a percentage of GDP due to higher rates, the US maintained its rating, prompting Raj’s insightful analysis of this downgrade and its potential consequences.