New York (dpa-Afx)-The USA also lost the top grade for the credit rating at the last big rating agency. Third, the Moody’s agency classified its evaluation for a step from AAA to AA1. The trigger is the high public debt. With the step, it could be a little more expensive for the United States to get money on the capital market about government bonds.
Moody’s pulled the rating with the competitors Fitch and S&P, who had gone down to AA+ in their grades from AAA. Fitch had reduced the rating 2023 – S&P in 2011.
Outlook “stable”
Moody’s argued that the gradation goes back to the increase in the state debt and the costs of their waitress over more than a decade. They have become significantly higher than in other countries with the top rating. It can be seen that the United States is economically and financially strong – but this is no longer completely the same as the regression in the state finances.
Moody’s has a total of 21 rating levels. The United States initially does not have to expect the agency with a further impact: Moody’s put the outlook on “stable”.
Criticism of the downgrading came from the White House. Communication director Steven Cheung attacked the Moody’s economist Mark Zandi as an adversary of President Donald Trump in the online platform X. “Nobody takes his” analyzes “seriously,” Cheung wrote. However, Zandi is the chief economist of the analysis business of Moody’s operating separately from the rating area.
Growing budget deficit expected
The US state budget has an annual deficit of almost two trillion dollars – more than six percent of the gross domestic product. Moody’s assumes that the budget deficit in 2035 will achieve a share of almost nine percent in economic output without a course correction for taxes and government spending.
US state bonds are one of the few “safe ports” for investors. However, after the announcement of President Donald Trump’s import customs circuit, the return on bonds rose because investors feared negative consequences for the economy and state finances of the United States.
Trump spoke several times that the deficit had to be reduced – and set Tech billionaire Elon Musk as costers in the government apparatus. However, the savings under Musk’s directing missed the promised level. And the tax and output plans currently discussed in the congress threaten to further increase the deficit./So/DP/e.g.