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Fitch warns may downgrade UK ratings
March 14, 2012 / 8:33 PM / 6 years ago

Fitch warns may downgrade UK ratings

NEW YORK, March 14 (Reuters) - Fitch Ratings on Wednesday warned it could downgrade the United Kingdom’s AAA rating in the next couple of years if the government fails to contain the expansion of its public debt.

The Credit ratings agency revised the outlook on the UK’s rating to negative from stable, warning that the government has “very limited fiscal space to absorb further adverse economic shocks.”

Fitch currently expects the UK’s public debt to stabilize at around 94 percent of its gross domestic product by 2014-15. Such a performance would allow it to reaffirm the country’s ratings at AAA with a stable outlook, it said.

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