S&P Keeps UK At AAA With Stable Outlook |
| Wall Street Journal - Apr 13, 2012 |
Standard and Poor's Corp. Friday said there is no present risk of the U.K. losing its AAA credit rating, a sign of confidence from a company that within the last year stripped both France and the U.S. of their top rating.
S&P expressed confidence that the U.K. government will be able to stick to its austerity program and that economic growth prospects won't deteriorate further than its current forecasts.
The decision leaves the U.K. with prized triple-A ratings from all three major rating companies, although the stable outlook means it retains a more positive opinion of the country's finances than the other two.
Moody's Investors Service placed the U.K.'s government debt rating on negative outlook in February, and Fitch Ratings followed suit a month later, saying Britain has a slightly greater than 50% chance of losing its triple-A status over the next two years.
"The stable outlook reflects our current expectation that the government will continue to consolidate public finances, enabling net general government debt as a percentage of [gross domestic product] to stabilize by 2014, and that the economic recovery will gain traction over the medium term," S&P said in a statement.
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- Posted: 2012-04-13 14:10:15
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