UK “Resilient” and keeps Top Rating

After the rather bleak picture of the UK that was revealed from yesterday’s Pre-Budget Report (with UK deficit in the billions), it came as rather a nice end to the week today when Moody’s Investor Service decided not to downgrade the UK (or the US either).  So, for now, the UK will keep its triple-A rating (“Aaa”) and has been classed as “resilient” by the rating agency.

Britain had been under threat of a downgrade from another top rating agency, Standard & Poor’s – though they took their axe to Spain instead.  The last of the Top Three, Fitch, downgraded Greece this week.

So for the next few years the UK must continue its battle to stay in the top rating class.  It will not be easy, with the massive debt problem and the recovery which seems slow to say the least.

The sterling rallied on the news yet had declined after the pre-Budget report yesterday, plus the Bank of England’s decision to keep interest rates at 0.5 per cent.

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One Comment on “UK “Resilient” and keeps Top Rating”

  1. Musebruby Says:

    I am frequently searching for new articles in the internet about this issue. Thx.

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