Fitch warns of U.S. downgrade if no budget deal in 2013

photoNEW YORK (Reuters) – Fitch Ratings gave the United States until 2013 to come up with a “credible plan” to tackle its ballooning budget deficit before it downgrades the country’s coveted AAA rating. The ratings agency said on Monday it revised to negative from stable the outlook on the U.S. credit rating after a special congressional committee failed last week to agree on at least $1.2 trillion in deficit-reduction measures. “The negative outlook reflects Fitch’s declining confidence that timely fiscal measures necessary to place U.S. public finances on a sustainable path and secure the U.S. …