Moody’s downgrades US credit rating citing rising debt

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Moody’s downgrades US credit rating citing rising debt

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Moody’s warned in 2023 that the US’ triple-A rating was at risk

The US has lost its last triple-A credit score from a major ratings firm after being downgraded by Moody’s, which cited growing federal debt over the past decade.

In lowering the US rating 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.

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