- Moody's downgraded the U.S. credit rating one rung to Aa1 from AAA on Friday evening, meaning federal debt no longer gets a top grade at any of the major rating agencies. Moody's cited "the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns."
The explosion of debt in recent years finally led Moody's to downgrade U.S. credit on Friday evening, meaning federal debt no longer gets a top grade at any of the major rating agencies.
