Financial ratings firm Moody’s Ratings downgraded the U.S. government’s credit ratings Friday, citing its rising debt and interest in a move that underscores a ballooning federal budget deficit, making it the last of the big three firms to downgrade the government’s credit.

HONG KONG (AP) — Global shares fell Monday and U.S. futures and the dollar also weakened after Moody’s Ratings downgraded the sovereign credit rating for the United States because of its failure to stem a rising tide of debt.

The downgrade of the U.S. sovereign credit rating Friday will likely mean higher borrowing costs on mortgages.

The credit rating downgrade signals higher borrowing costs, potentially impacting Nassau and Suffolk counties' budgets and residents' loans.

The United States government lost its last AAA credit rating Friday evening with Moody’s Ratings downgrading the country to its

Moody’s was the last among major ratings agencies to keep a top, triple-A rating for US sovereign debt, though it had lowered its outlook in late 2023 due to wider fiscal deficit and higher

Credit rating firm Moody’s downgraded the rating on U.S. sovereign credit on Friday, citing concern over the growth in the nation’s debt over the past decade and the nation’s high interest payments. The change means the United States’ rating dropped one notch from below its former triple-A rating,

The United States has been stripped of a prized top credit rating for the first time, as fears rise that the Trump administration will not tackle its soaring debts.