Moody's Ratings downgraded U.S. debt, becoming the last of the three major credit rating agencies to move in that direction.

The Moody’s ratings agency downgraded U.S. creditworthiness on Friday from the triple-A category to double-A, as Republicans work to pass a massive tax-and-spending cut bill that would add nearly $4 trillion to the federal deficit.

Moody's Ratings has downgraded the Government of United States of America's (US) long-term issuer and senior unsecured ratings to Aa1 from Aaa.