Moody’s Ratings Service downgraded the United States’s credit rating from the triple-A category to double-A. The federal government’s credit rating dropped from Aaa to Aa1 due to an “increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,

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.