Moody's on Friday changed its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden's administration.
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    NEW YORK/WASHINGTON, Nov 10 (Reuters) - Moody’s on Friday changed its outlook on the U.S. credit rating to “negative” from “stable” citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden’s administration.

    “Continued political polarization within US Congress raises the risk that successive governments will not be able to reach consensus on a fiscal plan to slow the decline in debt affordability,” Moody’s said in a statement.

    Republicans who control the U.S. House of Representatives expect to release a stopgap spending measure on Saturday aimed at averting a partial government shutdown by keeping federal agencies open when current funding expires next Friday.

    While it changed its outlook, indicating a downgrade is possible over the medium term, Moody’s affirmed its long-term issuer and senior unsecured ratings at ‘Aaa’ citing U.S. credit and economic strengths.

    A New York Times/Siena poll released on Sunday showed him trailing former President Donald Trump, the leading Republican candidate, in five of six battleground states: Nevada, Georgia, Arizona, Michigan and Pennsylvania.

    “Moody’s just downgraded our credit rating outlook to negative because of our out-of-control government spending and deficits," hardline Republican Representative Andy Harris said on X, formerly known as Twitter.

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