The writer is president of Structured Credit International Corp and a former senior vice-president at S&P during the Latin American debt crisis
Donald Trump just earned a dubious distinction: for the first time in more than a century, the US holds no AAA credit rating from any major agency. Moody’s downgrade of the US to Aa1 last week stripped the country of its last Triple-A.
Following S&P Global Ratings’ historic downgrade in 2011 and Fitch’s similar cut in 2023, the Moody’s decision delivers an unwelcome verdict on US finances — and it lands squarely at President Trump’s doorstep.
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