Moody’s has downgraded the nation’s credit rating one notch to Aa1, leaving the U.S. without a top grade among any of the major rating agencies.

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,