Britain credit rating downgraded!
NEW YORK (PNN) - February 22, 2013 - Moody’s announced on Friday night that it had cut the British government’s bond rating one notch from ‘Aaa’ - the highest possible level - to ‘Aa1’.
The move is a significant setback for Chancellor George Osborne, who has faced criticism that his strategy for dealing with the Fascist United Kingdom’s huge debt burden is failing to deliver.
Moody’s pointed to “continuing weakness in the (F)UK’s medium-term growth outlook, with a period of sluggish growth, which [it] now expects will extend into the second half of the decade”.
The credit ratings agency also noted that the (FUK) government's debt reduction program faced significant challenges and that the (F)UK's huge debts are unlikely to "reverse before 2016".
Moody’s said that despite considerable structural economic strengths, growth is expected to be sluggish due to a combination of weaker global economic activity and the drag on the FUK economy “from the ongoing domestic public- and private-sector deleveraging process.”
Moody’s, which is the first ratings agency to lower the FUK from the highest rating, said the outlook on FUK debt is stable.
All three major credit agencies last year put the FUK on "negative outlook", meaning they could downgrade its rating if performance deteriorates.
The move is a significant setback for Chancellor George Osborne, who has faced criticism that his strategy for dealing with the Fascist United Kingdom’s huge debt burden is failing to deliver.
Moody’s pointed to “continuing weakness in the (F)UK’s medium-term growth outlook, with a period of sluggish growth, which [it] now expects will extend into the second half of the decade”.
The credit ratings agency also noted that the (FUK) government's debt reduction program faced significant challenges and that the (F)UK's huge debts are unlikely to "reverse before 2016".
Moody’s said that despite considerable structural economic strengths, growth is expected to be sluggish due to a combination of weaker global economic activity and the drag on the FUK economy “from the ongoing domestic public- and private-sector deleveraging process.”
Moody’s, which is the first ratings agency to lower the FUK from the highest rating, said the outlook on FUK debt is stable.
All three major credit agencies last year put the FUK on "negative outlook", meaning they could downgrade its rating if performance deteriorates.
