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| Moody's downgrades US credit rating citing rising debt | Moody's downgrades US credit rating citing rising debt |
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| Moody's warned in 2023 that the US' triple-A rating was at risk | Moody's warned in 2023 that the US' triple-A rating was at risk |
| The US has lost its last triple-A credit score from a major ratings firm after being downgraded by Moody's, which cited growing federal debt over the past decade. | The US has lost its last triple-A credit score from a major ratings firm after being downgraded by Moody's, which cited growing federal debt over the past decade. |
| In lowering the US rating to 'Aa1', Moody's noted that successive US administrations had failed to reverse ballooning deficits and interest costs. | In lowering the US rating to 'Aa1', Moody's noted that successive US administrations had failed to reverse ballooning deficits and interest costs. |
| A triple-A rating signifies a country's highest possible credit reliability, and indicates it is considered to be in very good financial health with a strong capacity to repay its debts. | A triple-A rating signifies a country's highest possible credit reliability, and indicates it is considered to be in very good financial health with a strong capacity to repay its debts. |
| Moody's warned in 2023 the US triple-A rating was at risk. Fitch Ratings downgraded the US in 2023 and S&P Global Ratings did so in 2011. | Moody's warned in 2023 the US triple-A rating was at risk. Fitch Ratings downgraded the US in 2023 and S&P Global Ratings did so in 2011. |
| The 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," Moody's said in the statement. | |
| A lower credit rating means countries are more likely to default on their sovereign debt, and generally face higher borrowing costs. | |
| Moody's maintained that the US "retains exceptional credit strengths such as size, resilience and dynamism and the continued role of the US dollar as the global reserve currency". | |
| The BBC has reached out to the US Department of Treasury for comment. | |
| This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. | This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. |
| You can receive Breaking News on a smartphone or tablet via the BBC News App. You can also follow @BBCBreaking on X to get the latest alerts. | You can receive Breaking News on a smartphone or tablet via the BBC News App. You can also follow @BBCBreaking on X to get the latest alerts. |