Fitch outlines reasons for potential UK downgrade

A Fitch Ratings statement outlined its reasons for placing the United Kingdom on a negative watch:

  • Downward revisions of UK economic growth forecasts
  • "Persistently weak" UK growth, "in part due to European growth"

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UK on credit downgrade review

The Fitch credit rating agency has put the UK on negative rating watch, meaning it is on review for a potential downgrade, because of the Chancellor's worsening debt forecasts. It comes after Moody's downgraded the country's top AAA rating last month