Moodys downgrades U.S. credit rating
Digest more
Changes to the country’s credit rating impact interest consumers pay on household debt like mortgages, car loans and credit cards
Years of rising deficits and budget chaos finally caught up with the U.S. credit rating Friday when Moody’s Investor Service downgraded the government, stripping its last triple-A rating.
Even before talk of fresh unfunded tax cuts took center stage in the budget wrangling on Capitol Hill, US bond investors were making their views loud and clear: If the government keeps spending more than it takes in,
The Moody's announcement follows similar actions from Fitch and S&P in recent years and could result in higher borrowing costs.
Asian shares fell Monday and U.S. futures and the dollar weakened after Moody’sRatings downgraded the sovereign credit rating for the United States because of its failure to stem a rising tide of debt.