Tag Archives: credit agencies

UK loses its triple-A rating – George should’ve listened to Danny

The BBC reports tonight’s predictable news:

UK’s AAA credit rating cut to Aa1 by Moody’s
The UK has had its AAA credit rating cut by Moody’s, based on its expectation that growth will “remain sluggish over the next few years”. The ratings agency became the first to lower the UK from its highest rating, to Aa1. … The UK’s net sovereign debt was the equivalent of 68% of the country’s annual economic output, or GDP, at the end of last year. All three major credit agencies last year put the UK on “negative outlook”, meaning they could downgrade its rating if

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Danny Alexander: UK’s triple-A credit rating “not be-all and end-all”

Lib Dem chief secretary to the treasury Danny Alexander has signalled an interesting shift in the government’s economic approach, downplaying the significance to the economy of the UK’s continuing triple-A credit rating. Here’s what he told the BBC (courtesy of PoliticsHome):

“The credit rating is not the be-all and end-all. What matters is have we got the right policy mix for the country to get people back into work, to support economic growth, to deal with the huge problems in our public finances and the credit agencies reflect on those things and the ratings they give are a reflection of

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LibLink … Chris Huhne: These mystery men can break governments

Lib Dem shadow home secretary Chris Huhne has an article in today’s Times noting that how much it costs the Treasury to borrow money depends on three ratings agencies … and asks the crucial question: are they fit to wield this power?

Chris’s credential for writing an article outside his brief? Well, he founded the sovereign group at Fitch Ratings, and was group managing director. Here’s an excerpt:

Last week Moody’s — one of the big three international ratings agencies — warned that the UK’s top bond rating would be under threat if Britain failed to sort out its public finances

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Recent Comments

  • User AvatarReg Yeates 21st Aug - 2:43pm
    @ Richard Dean As I said 'maybe', I do think learned behaviour from parent to child maybe a possible cause to some depression(s). we often...
  • User AvatarMeral Hussein Ece 21st Aug - 2:39pm
    I would also add that all federal bodies/ committees, and local party executives need to be gender balanced, and reflect the local communities. Change happening...
  • User AvatarSeth 21st Aug - 2:25pm
    The tone of the statement is a rather interesting one - it seems to be directed at those in the business of "publishing or broadcasting"....
  • User AvatarRichard Dean 21st Aug - 2:25pm
    @Reg Yeates Thanks for sharing, and I am sorry to read of your troubles. Yes, there are many causes of depression and other mental health...
  • User AvatarGareth Wilson 21st Aug - 2:02pm
    Party members vote on the peerage list. Members stand as candidates, like they would any other position in the party (if OMOV goes through at...
  • User AvatarReg Yeates 21st Aug - 2:02pm
    From personal experience: having suffered depression from 13 y/o, when treatment was really still in the dark ages, to generalise the causes to a child's...