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14/02/2012
UK Credit Rating Outlook 'Downgraded'
The UK's top credit rating is under threat after an international ratings agency said its outlook was "negative".
The decision was announced as Moody's downgraded the credit rating of a number of eurozone countries, including Italy, Portugal and Spain.
Malta, Slovakia, Slovenia and Austria were also downgraded, while the outlook on the UK's Aaa rating was changed to "negative ".
Moodys said the changes were in response to Europe's "increasingly weak macroeconomic prospects", which they said would threaten the implementation of domestic austerity programmes and the structural reforms that are needed to "promote competitiveness".
"Moody's has reflected these constraints and exposures in its decision to downgrade the government bond ratings of Italy, Malta, Portugal, Slovakia, Slovenia and Spain as listed above. The outlook on the ratings of these countries remains negative given the continuing uncertainty over financing conditions over the next few quarters and its corresponding impact on creditworthiness," the spokesman said.
Meanwhile, the US rating agency said Germany's top-tier rating is "appropriate" and it affirmed the AAA rating on the eurozone's bailout fund, the European Financial Stability Fund.
(DW)
The decision was announced as Moody's downgraded the credit rating of a number of eurozone countries, including Italy, Portugal and Spain.
Malta, Slovakia, Slovenia and Austria were also downgraded, while the outlook on the UK's Aaa rating was changed to "negative ".
Moodys said the changes were in response to Europe's "increasingly weak macroeconomic prospects", which they said would threaten the implementation of domestic austerity programmes and the structural reforms that are needed to "promote competitiveness".
"Moody's has reflected these constraints and exposures in its decision to downgrade the government bond ratings of Italy, Malta, Portugal, Slovakia, Slovenia and Spain as listed above. The outlook on the ratings of these countries remains negative given the continuing uncertainty over financing conditions over the next few quarters and its corresponding impact on creditworthiness," the spokesman said.
Meanwhile, the US rating agency said Germany's top-tier rating is "appropriate" and it affirmed the AAA rating on the eurozone's bailout fund, the European Financial Stability Fund.
(DW)
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Credit ratings agency, Fitch, has joined Moody’s in putting the UK’s top AAA rating on “negative outlook”. The UK could be downgraded in the next few years warned Fitch Ratings if the government does not act on the level of public debt. The warning comes a week before George Osborne is due to deliver this year’s budget.
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A major credit ratings agency has sent shockwaves through Europe just as Germany and France broker a last minute deal to save the eurozone. Standard & Poor warned on Monday evening they were considering downgrading the credit rating of a swathe of European countries, including it's two largest and leading members, France and Germany.
S&P Threaten To Derail Euro Rescue
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Fewer UK hospitals are receiving excellent ratings, according to the latest annual star ratings report from the Healthcare Commission. The latest figures showed that there was a drop in the number of acute hospital trusts achieving the top three-star rating for the first time in four years.
29 September 2014
UK Loses AAA Credit Rating
The UK has lost its top AAA credit rating for the first time since 1978. The downgrade was made my ratings agency Moody's, who are the first to cut the UK's rating. Its rating is now Aa1.
UK Loses AAA Credit Rating
The UK has lost its top AAA credit rating for the first time since 1978. The downgrade was made my ratings agency Moody's, who are the first to cut the UK's rating. Its rating is now Aa1.
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