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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

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Fitch: UK has 'heightened probability of downgrade'

A Fitch Ratings statement said its placement of the UK on a negative watch indicated a "heightened probability of a downgrade in the near term."

It added:

The RWN reflect the latest economic and fiscal forecasts published by the Office for Budget Responsibility (OBR) that indicate that UK government debt will peak later and at a higher level than previously expected by Fitch.

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