Moody's on Friday downgraded the credit rating of the United States by a notch to "Aa1" from "Aaa", citing rising debt and interest "that are significantly higher than similarly rated sovereigns."

Moody’s has followed in the footsteps of credit rating agencies S&P Global and Fitch Ratings, downgrading their AAA rating on U.S. debt. The move comes amid ongoing challenges associated with mounting U.

Moody's has downgraded the US credit rating to AA1 due to rising debt and interest payments, aligning with earlier moves by Fitch and S&P over fiscal and political concerns