The Phaserl


UK faces Fitch downgrade over debt levels

Britain’s credit rating faces another downgrade in the next month after Fitch warned it is reviewing the country’s “AAA” status in the wake of the Budget.

by Richard Blackden, The Telegraph:

The agency warned that there is a “heightened probability of a downgrade” as it conducts a review of the rating by the end of April.

The move prompted foreign-exchange traders to sell the pound in late trading in the City and caps a torrid week for Chancellor George Osborne.

There has been some expectation that the credit rating would come under renewed scrutiny after a Budget in which the official growth forecast for this year was slashed from 1.2pc to 0.6pc.

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