June 27, 2025
The ratings agency cut America's pristine sovereign credit rating by one notch, citing concerns about the nation's growing $36 trillion debt pile
The downgrade to "Aa1" follows a change in 2023 in the agency's outlook on the sovereign due to wider fiscal deficits and higher interest payments
Thousands have been evacuated and local media reports that about a quarter of a million people are facing power outages
