|
Moody's downgrades UK rating
LONDON -- Credit ratings agency Moody's Investors Service has downgraded Britain's government bond rating one notch from the top AAA to AA1, citing weaknesses in the economy's medium-term outlook.Moody's said Friday that "subdued" growth prospects and a "high and rising debt burden" were weighing on the British economy. The British government is in the midst of a program of spending cuts designed to reduce the nation's hefty deficit, but a flat-lining economy has led it to downgrade its own estimates of future growth.
Posted by: Steve White 2013-02-23 |
|
| http://www.rantburg.com/poparticle.php?ID=362821 |