The financial ratings firm lowered the U.S. credit rating from the gold-standard Aaa to Aa1. It said it expected federal deficits to widen, mostly due to increased interest payments on debt, rising entitlement spending and relatively low revenue generation.
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 the 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.
