Sky News Business Editor Ross Greenwood says America has overnight lost its coveted AAA credit rating from ratings agency Moody's. “It's the first time since 1919 the US has not been rated AAA, after losing the same status from other ratings agencies earlier,

The US lost its triple-A credit score with Moody's on Friday, with the credit ratings firm citing rising federal debt and interest costs. The US was downgraded from Aaa, the highest rating, to Aa1. Some sovereigns with an Aaa ratings from Moody's include the European Union,