Fitch downgrades UK credit rating to AA+

BBC – The Fitch credit ratings agency has downgraded the UK to AA+ owing to a weakened economic outlook. The move, after Moody’s downgrade in February, came as Chancellor George Osborne defended the government’s austerity plan. Fitch said its downgrade primarily reflected a weaker economic and fiscal outlook. Mr Osborne has said his was the “right plan” and that the economy was “healing”. Fitch said its downgrade “primarily reflects a weaker economic and fiscal outlook” but returned its outlook to “stable”, removing the threat of further rate action in the near term. Read Article

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