Moody’s downgrades U.S. credit rating

The Moody’s ratings agency downgraded U.S. creditworthiness on Friday from the triple-A category to double-A, as Republicans work to pass a massive tax-and-spending cut bill that would add nearly $4 trillion to the federal deficit.

Moody’s dropped the U.S. rating from its “Aaa” category to “Aa1” on concerns over increased debts and interest payments that need to be paid by the federal government.

The downgrade reflects an increase “in government debt and interest payment ratios...