Moody's Investors Service changed its outlook on the United States credit rating from stable to negative on Friday over large fiscal deficits and declining debt affordability.
"Recently, multiple events have illustrated the depth of political divisions in the U.S.: Renewed debt limit brinkmanship, the first ouster of a House Speaker in U.S. history, prolonged inability of Congress to select a new House Speaker, and increased threats of another partial government shutdown," Moody's said.
Fitch downgraded its U.S. credit rating from "AAA" to "AA+" in August, and S&P Global did the same in 2011.Deputy Treasury Secretary Wally Adeyemo slammed the move, arguing that "The American economy remains strong, and Treasury securities are the world's preeminent safe and liquid asset."
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