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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  1. Laura Kuenssberg

Retention of Fitch's AAA status will be relief for Treasury

Fitch has puts the UK on a negative watch - not a downgrade.

It will be a relief for the Treasury at the end of a big week that it is only a watch and not the loss of AAA status yet.

But it does mean that a downgrade from a second agency is now more likely by the end of April. This could be followed by a third downgrade, from Standard and Poor's.

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