Axios
Moody’s Ratings cut its credit rating on the United States by one notch on Friday, citing an increase in government debt and interest payment ratios.Why it matters: The Moody’s downgrade to Aa1 removes the U.S. government’s last remaining triple-A credit rating, diminishing its status as the world’s highest-quality sovereign borrower.What they’re saying: “This one-notch downgrade on our 21-notch rating scale 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.”Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs.”Zoom in: Moody’s cast doubt on whether current U.S…
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Moody’s cuts U.S. credit rating on growing debt burden
Pete Gannon
16:25
Moody’s Ratings cut its credit rating on the United States by one notch on Friday, citing an increase in government debt and interest payment ratios.Why it matters: The Moody’s downgrade to Aa1 removes the U.S. government’s last remaining triple-A credit rating, diminishing its status as the world’s highest-quality sovereign borrower.What they’re saying: “This one-notch downgrade
