Moody’s strips U.S. government of top credit rating, citing Washington’s failure to rein in debt

By PAUL WISEMAN, Associated Press
WASHINGTON (AP) — Moody’s Ratings stripped the U.S. government of its top credit rating Friday, citing successive governments’ failure to stop a rising tide of debt.
Moody’s lowered the rating from a gold-standard Aaa to Aa1 but said the United States “retains exceptional credit strengths such as the size, resilience and dynamism of its economy and the role of the U.S. dollar as global reserve currency.”
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