Moody’s credit rating agency on Friday reduced the United States rating on one degree of “AAA) to” AA1 “(AA1), noting the high debt and interest costs” with many countries with a similar classification.
“Successive American departments and Congress have not been able to agree on measures to change the direction of the large annual financial deficit and the increasing interest costs,” Moody’s said.
It is the first time that the agency has withdrawn its highest ranking than the United States.
This reduction comes after Fitch reduced the competing agency its credit rating to the United States in August 2023 degrees, based on what it described as expected financial deterioration and repeated negotiations on the roof of the debt, which threatens the government’s ability to pay its debts.
However, Moody’s considered that the American economy remains “unique” as a result of its depth, the high revenues it achieves, the potential, strong growth, the ability to innovate and enhance productivity, “which leads it to keep its future vision in the immediate term.
The White House strongly rejected Moody’s classification of the United States.
In a post on social media, White House Telecommunications Director Stephen Cheung in particular, Mark Zandy, a Moody’s economist, criticized him as a political opponent of US President Donald Trump.
“Nobody takes his analysis seriously, it has been proven again and again,” he added.
