The Moody’s ratings agency downgraded U.S. creditworthiness Friday from the triple-A category to double-A, as Republicans work to pass a massive bill to cut taxes and spending that would add nearly $4 trillion to the federal deficit.

Moody’s dropped the U.S. rating from its “Aaa” category to “Aa1” on concerns over increased debts and interest payments that need to be paid by the federal government.

The downgrade reflects an increase “in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,” the agency said in a Friday release.

Moody’s has not previously taken a downgrade rating action on US sovereign debt, a representative for the........

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