Moodys : Britain "Substantially Closer" to Losing 'AAA' Rating

Update :

March 15 (Bloomberg) — The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.

Update : II : Pierre Cailleteau, managing director of sovereign risk at Moody’s in London, said under the ratings company’s so-called baseline scenario the UK will spend more on debt service as a percentage of revenue this year than any other AAA rated country: “We expect the situation to further deteriorate in terms of the key ratings metrics before they start stabilizing … This story is not going to stop at the end of the year. There is inertia in the deterioration of credit metrics.” Moodys predicts the UK will spend 7% of tax revenue servicing debt this year and between 9% and 12% in 2013. Financing costs above 10% automatically put countries outside of the AAA ratings category.

Update : III : For a completely different take, see the BBC –  UK Credit Rating Viewed As Safe




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Radio Derby: “Do you know what a mugwump is?”

Theresa May: “What I recognise is that what we need in this country is strong and stable leadership.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Happy Ed Balls Day Happy Ed Balls Day
Campaign Report: 42 Days To Go Campaign Report: 42 Days To Go
Zac Back? Watch Our Guy News Special Zac Back? Watch Our Guy News Special
Campaign Report: 43 Days To Go Campaign Report: 43 Days To Go
Gallery Guido’s PMQs Sketch Gallery Guido’s PMQs Sketch
Farron U-Turns and Sacks David Ward Farron U-Turns and Sacks David Ward
‘Spring’ Breaks: Jolyon’s Short-Lived New Party ‘Spring’ Breaks: Jolyon’s Short-Lived New Party
More Selection Shenanigans More Selection Shenanigans
Bouattia Ousted Bouattia Ousted
David Ward Becoming a Problem for Farron David Ward Becoming a Problem for Farron
Clive Lewis Slammed by ICM for Fake News Poll Clive Lewis Slammed by ICM for Fake News Poll
Radio 4 Gossips Link Peston to Today Radio 4 Gossips Link Peston to Today
Mirror Chicken Fattened for Election Slaughter Mirror Chicken Fattened for Election Slaughter
Len Tries to Stitch Up Liverpool Walton for His Bag Carrier Len Tries to Stitch Up Liverpool Walton for His Bag Carrier
Starmer on Corbyn: Then and Now Starmer on Corbyn: Then and Now
Updates: Who’s Standing? Who’s Standing Down? Updates: Who’s Standing? Who’s Standing Down?
Banks Bottles It Banks Bottles It
Corbynista Unfurls “Farron Hates Gays” Placard Corbynista Unfurls “Farron Hates Gays” Placard
Esther McVey for Tatton Esther McVey for Tatton
Zac Back? Zac Back?