Moody's downgrades U.S. credit rating to Aa1, citing rising debt and interest costs.

Moody's has downgraded the U.S.'s credit rating from Aaa to Aa1, citing rising government debt and interest costs. This marks the loss of the U.S.'s last perfect rating from a major agency, following similar downgrades by Fitch and S&P. Despite the downgrade, Moody's views the U.S. outlook as stable, highlighting the country's strong economy and the U.S. dollar's role as a global reserve currency. The agency warns that without fiscal reforms, deficits and interest burdens will likely increase, potentially affecting financial markets and raising interest rates.