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SUMMARY

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 United States "retains exceptional credit strengths such as the size, resilience and dynamism of its economy and the role of the U.S. dollar as global reserve currency.'' Moody's is the last of the three major rating agencies to lower the federal government's credit. Standard & Poor's downgraded federal debt in 2011 and Fitch Ratings followed in 2023.

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