1st LD: Fitch cuts U.S. credit rating

NEW YORK, Aug. 1 (Xinhua) -- Credit ratings agency Fitch on Tuesday downgraded the U.S. government's credit rating over concerns about "growing debt burden" and "an erosion of governance."

Fitch, one of three major independent agencies that assess creditworthiness, lowered the U.S. credit rating from the top-notch AAA to AA+.

"The rating downgrade of the United States reflects the expected fiscal deterior