1st LD: Moody's Ratings cuts U.S. credit rating citing budgetary burden

NEW YORK, May 16 (Xinhua) -- Moody's Ratings on Friday cut U.S. credit ratings to Aa1 from Aaa citing rising government debt and interest payment ratios.

Meanwhile, Moody's Ratings changed the outlook of U.S. sovereign rating from negative to stable.

"This one-notch downgrade on our 21-notch rating scale reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns," said a release by Moody's Ratings.

Moody's Ratings changed the outlook of U.S. sovereign rating from stable to negative in November 2023. Enditem