Financial ratings firm Moody’s Ratings downgraded the U.S. government’s credit ratings Friday, citing its rising debt and interest in a move that underscores a ballooning federal budget deficit, making it the last of the big three firms to downgrade the government’s credit.

The credit rating downgrade signals higher borrowing costs, potentially impacting Nassau and Suffolk counties' budgets and residents' loans.

The United States government lost its last AAA credit rating Friday evening with Moody’s Ratings downgrading the country to its

U.S. stocks open lower after Moody's stripped the U.S. of its top credit rating. Treasury yields jump as investors demand more payout to hold US debt.

Credit rating firm Moody’s downgraded the rating on U.S. sovereign credit on Friday, citing concern over the growth in the nation’s debt over the past decade and the nation’s high interest payments. The change means the United States’ rating dropped one notch from below its former triple-A rating,

The United States has been stripped of a prized top credit rating for the first time, as fears rise that the Trump administration will not tackle its soaring debts.

Moody’s Ratings downgraded the United States’ debt on Friday, stripping the country of its last perfect credit rating. The move could rattle financial markets and push up interest rates.Video above: Best money moves to make right now in a volatile ...