UK credit rating downgrade: not quite platinum, but still gold standard

UK credit rating downgrade: not quite platinum, but still gold standard

Moody’s, the rating agency, downgraded the United Kingdom’s sovereign credit rating from Aaa to Aa1 on 22 February. Despite the headlines, this shift is unlikely to have a material effect on the UK economy.

Economic Analysis

25 February 2013

It is more a symbolic and political loss. Aa1 is Moody’s second highest rating and the other two main rating agencies continue to rate the UK as triple-A. So, the UK may no longer be a platinum-rated country, but it remains gold standard.

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