US loses last perfect credit rating amid rising debtMoody's warned in 2023 that the US' triple-A rating was at riskMoody's warned in 2023 the US triple-A rating was at risk. Moody's held a perfect credit rating for the US since 1917. The US has lost its last perfect credit rating, as influential ratings firm Moody's expressed concern over the government's ability to pay back its debt. In a statement, the White House said it was "focused on fixing Biden's mess", while taking a swipe at Moody's. A lower credit rating means countries are more likely to default on their sovereign debt, and generally face higher borrowing costs.