US Credit Rating Cut by Moody’s on Government Debt Increase

Buying calls for Monday because fuck it.

The US was downgraded by Moody’s Ratings on an increase in government debt, a landmark move that casts doubt on the nation’s status as the world’s highest-quality sovereign borrower.

Moody’s lowered the US credit score to Aa1 from Aaa on Friday, joining Fitch Ratings and S&P Global Ratings in grading the world’s biggest economy below the top, triple-A position.

The one-notch cut comes more than a year after Moody’s changed its outlook on the US rating to negative. The credit assessor now has a stable outlook.

“While we recognize the US’ significant economic and financial strengths, we believe these no longer fully counterbalance the decline in fiscal metrics,” Moody’s wrote in a statement.