Moody's downgrades US credit rating citing rising debt

Moody's said successive US administrations had failed to reverse ballooning deficits and interest costs.
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In lowering the US rating from 'AAA' to 'Aa1', Moody's noted that successive US administrations had failed to reverse ballooning deficits and interest costs.
A triple-A rating signifies a country's highest possible credit reliability, and indicates it is considered to be in very good financial health with a strong capacity to repay its debts.
Moody's warned in 2023 the US triple-A rating was at risk. Fitch Ratings downgraded the US in 2023 and S&P Global Ratings did so in 2011. Moody's held a perfect credit rating for the US since 1917.
The downgrade "reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns," Moody's said in the statement.
https://www.bbc.com/news/articles/c4ge0xk4ld1o
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