According to a report, the u.s. government have lost their last perfect credit rating from ratings firm Moody’s who expressed concern about the government’s ability to repay their debt. Reportedly, Moody’s said that successive u.s. administrations have failed to reverse ballooning deficits and interest costs.
According to the report, the country’s previous triple A rating signified the highest possible credit reliability, indicating good financial health and a strong capacity to repay their debts. Reportedly, Moody’s warned in 2023 that the rating was at risk. According to the report, the u.s. were downgraded by S & P global ratings in 2011 and Fitch ratings in 2023, but have held a perfect credit rating from Moody’s since 1917.
Reportedly, the downgrade reflects an increase in government debt and interest ratios. Us national debt stands at $36.2 trillion. The uk, Japan and China are the three principle creditors..