The Straits Times
Published on Dec 14, 2012

Standard and Poor's puts Britain's AAA rating on negative outlook


LONDON (AFP) - Standard and Poor's cut the outlook on Britain's AAA credit rating from stable to negative on Thursday, raising the possibility that it could downgrade the rating in the next two years.

"The negative outlook reflects our view of a one-in-three chance that we could lower the ratings in the next two years if the UK's economic and fiscal performances weaken beyond our current expectations," S&P said in a statement.

They followed the other two main ratings agencies in putting Britain's credit rating on a negative outlook.

"We now expect the United Kingdom's net general government debt as a percentage of GDP to continue to rise in 2015, before declining again," S&P said.