| Moody's rating agency places UK on negative outlook |
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| Tuesday, 14 February 2012 09:31 | |||
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The UK has been warned its credit rating may be cut in future, potentially increasing borrowing costs.
The statement from the Moody's ratings agency followed concerns about the possible impact of the eurozone crisis on the UK's growth prospects. It put the UK on "negative outlook", implying a 30% chance of losing its AAA credit rating within 18 months. France and Austria have also been warned and Italy, Spain and Portugal's ratings have been lowered.
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