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Thursday, May 23, 2024

Moody’s downgrades outlook on US govt ratings from stable to negative

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Moody’s Investors Service has downgraded the outlook for the US government ratings from stable to negative, the agency announced, citing risks to the financial strength of the country.

“Moody’s Investors Service (Moody’s) has today changed the outlook on Government of United States of America’s (US) ratings to negative from stable and affirmed the long-term issuer and senior unsecured ratings at Aaa,” Moody’s said on Friday.

Deputy Secretary of the Treasury Wally Adeyemo disagreed with the assessment.

“While the statement by Moody’s maintains the United States’ Aaa rating, we disagree with the shift to a negative outlook. The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset,” Adeyemo said in a statement as quoted by CNBC.

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