The U.S. credit rating was downgraded by Moody's Ratings on Friday, highlighting investor concerns about the government's growing debt.The downgrade from the top rating of Aaa to Aa1 "reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,

The downgrade follows a change in the outlook on the sovereign in 2023 due to wider fiscal deficit and higher interest payments, and comes as Congress debates tax and spending plans that could deepen the fiscal hole.