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"


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