Thursday, May 21, 2009
The economy is strong, and we are best-placed to weather the down-turn, remember?
MarketWatch and S&P: Standard & Poor's cuts U.K. outlook to negative from stable
LONDON (MarketWatch) -- Standard & Poor's on Thursday lowered its credit outlook on the U.K. to negative from stable for the first time ever in view of the country's swelling debt, which may expand even as the economy recovers.
The move by Standard & Poor's raises the prospect not only of a credit-rating downgrade in Britain but a lowering of the outlook in the U.S., which has taken a similar path of big spending and quantitative easing to escape the credit-led recession.
Posted by sneaker @ 05:59 PM (421 views) Add Comment
2 Comments
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1. Clockslinger said...
"...The rating could be lowered if, following the next election, we see you maintaining any kind of welfare state at the expense of our shareholders in higher taxes". Neither Lord Snooty nor Mandleson will have no problem with that directive from the illuminati! These are the very people that abetted the creation of created the problem with their worthless ratings. Now they blackmail and threaten the state some more as to who in our society really pays...(but we should know it won't be the wealthy "because they'd all leave the country wouldn't they"!)
2. drewster said...
Ratings agencies such as S&P are always behind the curve. The pound fell against the euro last November/December, yet S&P have only just woken up to the UK's problems. The market was six months ahead of them as always.