Topline
Financial ratings firm Moody’s Ratings downgraded the U.S. government’s credit ratings Friday, citing its rising debt and interest in a move that underscores a ballooning federal budget deficit, making it the last of the big three firms to downgrade the government’s credit.
Moody’s downgraded the rating Friday afternoon. (Photo Illustration by Pavlo Gonchar/SOPA … More
Key Facts
Moody’s Ratings downgraded the U.S. credit score from a Aaa to Aa1, lowering the designation from prime to high grade.
The firm said the one-notch 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.”
However, Moody’s also changed its outlook from negative to stable, propping up the U.S.’ “exceptional credit strengths” and the role of the dollar as the world’s reserve currency.
This is a developing story. Check back for updates.
