LONDON, Sept 30 — Moody’s top European analyst has flagged Oct. 21 as the next crucial date for Britain’s credit rating following the firm’s negative assessment this week...
LONDON, Sept 30 — Moody’s top European analyst has flagged Oct. 21 as the next crucial date for Britain’s credit rating following the firm’s negative assessment this week of the government’s new debt-fuelled spending plans.
“In our normal course of business, that would be the point at which we would normally expect to update the market,” Moody’s Chief EMEA Credit Officer Colin Ellis told Reuters when asked whether it had considered cutting the UK’s Aa3 rating this week. It estimates 72 billion pounds of additional spending in the UK’s new plans will keep the budget deficit above 6 per cent of gross domestic product over the next two years and lift the debt-to-GDP ratio to 104 per cent from 100 per cent by 2026.
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