Moody's on Friday cut the US credit rating by one notch, citing rising debt and interest payments that outpace those of similarly rated sovereigns, in a move that marks the end of an era as Moody's was the last major agency to maintain a triple-A rating for US sovereign debt.
The downgrade, which places the U.S. government one notch below Moody’s top Aaa status, comes as lawmakers weigh a budget that would extend significant tax cuts and boost spending for years
Moody’s has downgraded the US credit rating for the first time, citing rising debt and political dysfunction. Here’s what the move means for your wallet, interest rates, and the broader economy.
Moody's Ratings downgraded the U.S. credit rating by one notch, from Aaa to Aa1, citing persistent rising government debt and a worsening fiscal outlook.
Congress and past administrations have been unable to agree on how to curb the pattern of substantial yearly budget deficits and rising interest costs.
The credit rating of the United States received a potentially costly downgrade Friday, as the ratings firm Moody's determined that the government's fiscal outlook had deteriorated as a result of rising debt levels and stood to worsen further if Republicans enact a package of new tax cuts.
Moody's downgrade of the U.S. credit rating made it the third of the three major ratings agencies to downgrade U.S. credit since 2011, potentially leading to higher borrowing costs.
The Moody’s ratings agency downgraded U.S. creditworthiness Friday from the triple-A category to double-A, as Republicans work to pass a massive bill to cut taxes and spending that would add nearly $4 trillion to the federal deficit. Moody’s dropped the U.S.
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Moody's becomes final credit agency to downgrade U.S. debt rating | Since Then
