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.

The Moody's announcement follows similar actions from Fitch and S&P in recent years and could result in higher borrowing costs.

Moody’s downgraded U.S. debt for the first time since 1917. The move could shake markets and push interest rates even higher.