Moody’s takes shot at UK’s triple A rating

The United Kingdom's deteriorating public finances and growth outlook have substantially reduced its ability to maintain its triple A credit rating, Moody’s, the credit ratings agency warned on the 20 December 2011 in a shot across the coalition government’s bows.

However, Moody’s also said that Britain's economy and public finances still enjoyed many strengths that would help to protect its credit rating. According to Moody’s, the economy was competitive, enjoyed a flexible currency, very loose monetary policy, strong fiscal institutions in the Office for Budget Responsibility, a record of reducing debt in the past and long average maturity on government debt, reducing rollover risk.

BBC News, 20.12.11: Moody's gives UK high scores but warns of 'challenges' http://www.bbc.co.uk/news/business-16278595

EUObserver, 21.12.11: Britain blames euro for triple-A warning http://euobserver.com/19/114704

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