US loses 'AAA' credit rating, Moody's cites rising debt
Moody's downgraded the US sovereign credit rating by one notch to 'AA1' from 'AAA'. It raised concerns about the nation's growing $36-trillion debt pile. "Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs," Moody's said, changing its outlook on the US to "stable" from "negative."