The US has lost its triple-A credit rating from a major agency as mounting government debt led congressmembers said the action is a reminder that the 'nation's fiscal house is not in order.'

The United States has suffered a major financial blow after Moody’s Ratings stripped the country of its last remaining AAA credit rating — a move that could shake global markets and lead to a surge in interest rates.

The US was stripped of its last top credit rating by Moody’s Ratings, reflecting deepening concern that ballooning debt and deficits will damage America’s standing as the preeminent destination for global capital and increase the government’s borrowing costs.