Washington (USA), 17 May (LaPresse) – On Friday, Moody's Ratings downgraded the US government, citing large budget deficits and rising interest costs. The decision strips the United States of its last remaining triple-A credit rating from a major rating agency, following similar downgrades by Fitch Ratings in 2023 and S&P Global Ratings in 2011. Moody's downgraded the United States to Aa1, a rating also held by Austria and Finland. ‘Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual budget deficits and rising interest costs,’ Moody's wrote in a statement. ‘We do not believe that the current fiscal proposals under consideration will produce significant multi-year reductions in mandatory spending and deficits,’ it added, according to the Wall Street Journal.