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UK triple-A rating under fresh threat from S&P
by Daniel Grote on Dec 14, 2012 at 08:41
Ratings agency Standard & Poor’s has followed Moody’s and Fitch in placing the UK’s AAA rating on ‘negative outlook’.
It said it had made the move to reflect a possible downgrade of the UK’s credit rating if fiscal performance weakened beyond its current expectations.
‘We believe this could occur in particular as a result of a delayed and uneven economic recovery, or a weakening of political commitment to consolidation,’ it said.
‘We expect economic growth to rise slowly in the medium term, with net general government debt as a percentage of GDP continuing to rise in 2015, instead of stabilising in 2014 as previously expected.’
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by Himanshu Singh on May 19, 2013 at 03:08