Britain on Thursday became the first big economy to be warned in the financial crisis that it might lose its top-notch credit rating, in a move that raised fears of possible downgrades for other large industrialised nations. S&P lowered its medium-term outlook on the triple A rating for the UK’s debt to “negative” from “stable” for the first time since it started analysing the UK’s public finances in 1978. Though the agency lowered its outlook, it affirmed Britain’s AAA long-term and A-1+ short-term sovereign credit ratings.

This entry was posted by Gwen Robinson on Friday, May 22nd, 2009 at 5:07 and is filed under Capital markets. Edit this entry.