US Treasury Secretary Scott Bessent has dismissed Moody's downgrading of the US sovereign credit rating.



Moody's on Friday announced a cut in the US rating by one notch from the top Aaa to Aa1. It cited a rise in US government debt and interest payments.



Bessent told CNN on Sunday that he does not "put much credence in the Moody's" downgrade. He said what he thinks is important is that there are "trillions of dollars coming into the US, so we're seeing confidence from investors."



He indicated that market players have already taken account of the reasons that were given for the downgrade. He said that "the history of rating agencies, by the time they get to a downgrade, everything's already in the market."



Bessent also commented on the US negotiations with its trading partners over the tariff measures by President Donald Trump's administration.



He said the US will sign "a lot of regional deals," citing a rate for Central America and another for a part of Africa as examples.



However, Bessent added that the Trump administration is currently focusing on "18 important trading relationships." The US is believed to count Japan as one of these key trading partners.