Credit Rating for US Government Downgraded

Washington: Moody’s Ratings stripped the U.S. government of its top credit rating Friday, citing successive governments’ failure to stop a rising tide of debt.

Moody’s lowered the rating from a gold-standard AAA to AA1 but said the US “retains exceptional credit strengths such as the size, resilience and dynamism of its economy and the role of the US dollar as global reserve currency.”

Moody’s is the last of the three major rating agencies to lower the federal government's credit in 2011 and Fitch Ratings in 2023.