Barely a couple of months after being downgraded, credit rating of the U.K. got yet another hit Friday as Fitch Ratings followed Moody’s Investors Service to cut the country’s AAA rating.
Barely a couple of months after being downgraded, credit rating of the U.K. got yet another hit Friday as Fitch Ratings followed Moody’s Investors Service to cut the country’s AAA rating.
The rating agency justified the move by pointing to the country’s spiraling government debt and worsening economic growth, reports WSJ.com.
Both ratings agencies had held a negative outlook for the island’s economy for some time before lowering its credit rating a notch to AA+.
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