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Britain's credit rating downgraded from AAA to Aa1

 
mathetes
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02/23/2013 03:30 AM

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Britain's credit rating downgraded from AAA to Aa1
Moody’s announced on Friday night that it had cut the Government’s bond rating one notch from ‘Aaa’ – the highest possible level – to ‘Aa1’.

The move is a significant setback for Chancellor George Osborne, who has faced criticism that his strategy for dealing with UK’s huge debt burden is failing to deliver.

Moody’s pointed to “continuing weakness in the UK’s medium-term growth outlook, with a period of sluggish growth which [it] now expects will extend into the second half of the decade”.


[link to www.telegraph.co.uk]
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02/23/2013 03:38 AM
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Re: Britain's credit rating downgraded from AAA to Aa1
Its Obama's fault

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