US Loses Last Triple-A Credit Rating As Moody's Cuts On Growing Govt Debt

Moody's was the last of the three major credit ratings agencies to downgrade the United States, following in the footsteps of S&P and Fitch (Credit: AFP)

The United States lost its last triple-A credit rating from a major agency on Friday as Moody's announced a downgrade, citing rising levels of government debt and dealing a blow to Donald Trump's narrative of economic strength and prosperity.

The downgrade to Aa1 from Aaa adds to the bad news for the US president, coming on the same day his flagship spending bill failed to pass a key vote in Congress due to opposition from several Republican fiscal hawks.