HONG KONG (AP) — Global shares fell Monday and U.S. futures and the dollar also weakened after Moody’s Ratings downgraded the sovereign credit rating for the United States because of its failure to stem a rising tide of debt.

The credit rating downgrade signals higher borrowing costs, potentially impacting Nassau and Suffolk counties' budgets and residents' loans.

Moody’s decision to downgrade the U.S. credit rating may have far-reaching consequences for your money, experts say.

The United States government lost its last AAA credit rating Friday evening with Moody’s Ratings downgrading the country to its

Credit rating firm Moody’s downgraded the rating on U.S. sovereign credit on Friday, citing concern over the growth in the nation’s debt over the past decade and the nation’s high interest payments. The change means the United States’ rating dropped one notch from below its former triple-A rating,

The United States has been stripped of a prized top credit rating for the first time, as fears rise that the Trump administration will not tackle its soaring debts.

Moody’s Ratings downgraded the United States’ debt on Friday, stripping the country of its last perfect credit rating. The move could rattle financial markets and push up interest rates.Video above: Best money moves to make right now in a volatile ...

Moody's cut the U.S. credit rating last week, dropping it one notch from the top rating of Aaa to a lower classification of Aa1.