Washington: Moody’s rating stripped the U.S. government of its highest credit rating on Friday, citing a continuous failure to stop rising debt.
Moody lowered the rating from gold standard AAA to AA1, but said the U.S. “retains excellent credit advantages such as the size, resilience and vitality of its economy and the role of the U.S. dollar as a global reserve currency.”
Moody’s is the last of three major rating agencies to reduce the credibility of the federal government in 2011 and the Fitch rating for 2023.
