U.S. loses its last "Triple-A" credit rating

Moody’s downgrades the U.S. government, citing large fiscal deficits and rising interest costs

Key Points

Moody’s downgraded the U.S. credit rating to Aa1 due to large deficits and rising interest costs.
Runaway budget deficits mean U.S. government borrowing will balloon at an accelerating rate, Moody’s said.
The move strips the U.S. of its last remaining triple-A credit rating from a major ratings firm.

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