Fitch cuts UK credit rating on ‘weaker economic and fiscal outlook’
Britain has been stripped of its AAA credit rating by a second rating agency as a result of poor growth.
by Philip Aldrick, The Telegraph:
Fitch joined Moody’s in downgrading the UK to AA+ “to reflect a weaker economic and fiscal outlook” that has caused both the budget deficit and national debt to soar above earlier forecasts.
It means that only Standard & Poor’s has the UK on the top rating, albeit on “negative outlook”.
The downgrade was blamed on “the weak growth performance of the UK economy in recent years, partly due to private and public sector deleveraging and the eurozone crisis”.
It will come as another damaging blow to the Chancellor, who has already been under pressure from the International Monetary Fund this week to kick start growth by easing up on austerity.
2013-04-20 05:45:15
Source: http:///2013/04/fitch-cuts-uk-credit-rating-on-weaker-economic-and-fiscal-outlook/
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