Audio By Carbonatix
The US has lost its last triple-A credit score from a major ratings firm after being downgraded by Moody's, which cited growing federal debt over the past decade.
In lowering the US rating to 'Aa1', Moody's noted that successive US administrations had failed to reverse ballooning deficits and interest costs.
A triple-A rating signifies a country's highest possible credit reliability, and indicates it is considered to be in very good financial health with a strong capacity to repay its debts.
Moody's warned in 2023 the US triple-A rating was at risk. Fitch Ratings downgraded the US in 2023 and S&P Global Ratings did so in 2011.
The downgrade "reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns," Moody's said in the statement.
A lower credit rating means countries are more likely to default on their sovereign debt, and generally face higher borrowing costs.
Moody's maintained that the US "retains exceptional credit strengths such as size, resilience and dynamism and the continued role of the US dollar as the global reserve currency".
The BBC has reached out to the US Department of Treasury for comment.
Latest Stories
-
NDC opens nominations, sets February 7 for Ayawaso East parliamentary contest
2 hours -
Ex-president accused of murder plot expelled from Togo to Burkina Faso
2 hours -
NPP assures free, fair and peaceful presidential primaries on January 31
2 hours -
JUSAG suspends intended strike as government responds to concerns Â
2 hours -
NAIMOS officer shot, one assailant killed in Bono Region anti-galamsey operation
3 hours -
U.S immigration tribunal independent, not swayed by protests – Prof Appiagyei-Atua
3 hours -
Ghana-China trade hits $15bn as Vice President bids farewell to outgoing Chinese Ambassador
3 hours -
Vote a flagbearer who prioritises Ashanti Region to restore dominance – NPP delegates told
3 hours -
Public barred from Ken Ofori-Atta’s US Immigration court hearing: Blow-by-blow account of how it happened
4 hours -
The GoldBod and the strategic realignment of national resource governance: A macroeconomic and comparative analysis
4 hours -
Legacy of impact: Richard Nii Armah Quaye cemented as a Titan of Industry in the 2025 Ghanaian Powerlist
4 hours -
Ken Ofori-Atta’s U.S. immigration case hearing
5 hours -
CCC’s StartWell Conference 2026 to champion transformational leadership
5 hours -
Honour Yaw Sarpong’s legacy – Kumasi residents urge MUSIGA, gov’t
6 hours -
Protests at US Embassy won’t expedite Ofori-Atta’s return – Frank Davies
6 hours
