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The United States has been robbed of a credit rating at Moody’s top triple over concern over the rising level of government debt.
On Friday afternoon, the company cut off its credit rating from AAA to AAA, when its views became negative from negative. Other major agencies removed the primitive rating of the United States before Fitch and S&P.
Modi says they expected to widen the federal deficit about 5 percent of GDP by 20, which is more than that of the last year, because of the increase in interest payments for debt, entitlement and “relatively low revenue production”.
The company wrote, “On our 21-khaj rating scale, this one-on-one downged official Debt and interest reflects for more than a decade of interest payment, which is significantly higher than the same rated sovereignty,” the company wrote.
This is a developing story
