Here's more for this.....Budget 2013: Ratings agencies warn of UK downgrade
Thursday 21 March 2013 00:00
BRITAIN’S credit rating could be set for fresh downgrades after prospects for growth were halved yesterday in the face of gloomy economic data.
The Office for Budget Responsibility (OBR) revealed that the continued slump in high-street spending, business investment and exports would leave the UK growing at just 0.6 per cent this year, and only 1.8 per cent next.
It prompted fresh warnings from the City that other ratings agencies could follow Moody’s and remove Britain’s triple-A credit rating.