Credit rating: S&P revises Britain’s outlook

S&P has lifted its outlook on Britain’s credit rating to stable from negative

LONDON: Standard and Poor’s (S&P) has lifted its outlook on Britain’s credit rating to stable from negative, citing the broad recovery and progress in consolidating public finances, and confirmed its top AAA assessment. “Standard and Poor’s Ratings Services revised its outlook on the United Kingdom to stable from negative,” it said in a statement. The agency also affirmed its AAA/A-1+ long- and short-term sovereign credit ratings for Britain. “The outlook revision reflects our view of the robust and broadening recovery in the UK economy, and the further progress that the government is making on consolidating public finances,” it said in a statement.  S&P forecast that the British economy would expand by almost 3% in 2014, and by 2.5% in 2015, propelled by business investment and private consumption.  “We see improving credit and capital market conditions as supportive of growth, along with an expected gradual resumption of positive real wage gains,” it noted.

Published in The Express Tribune, June 15^th, 2014.

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