“The UK’s debt could deteriorate to a point that is inconsistent with an AAA rating”

MOODY’S has warned Chancellor George Osborne that the UK could lose its coveted AAA credit rating if his latest growth forecasts prove too optimistic.

Mr Osborne lowered his forecast for growth in gross domestic product – national output – this year and next year during Wednesday’s Budget, admitting that the recovery will be slower than thought until 2013.

This means the Conservative-led Coalition will need an economic rebound from 2013 onwards if it is to eliminate the Budget shortfall before the 2015 General Election.

However, the ratings agency cautioned that there was more chance that economic growth in Britain would lag behind, rather than exceed, the Chancellor’s predictions for 2013 onwards, thwarting his drive to cut the deficit.

Moody’s said: “Slower growth combined with weaker-than-expected fiscal consolidation could cause the UK’s debt metrics to deteriorate to a point that would be inconsistent with an AAA rating.”

Ratings agency Fitch made a similar statement on Wednesday.

Preserving Britain’s triple-A sovereign debt rating is a top economic priority for the coalition, which inherited a deficit greater than 10% of gross domestic product.

Mr Osborne’s fiscal plans are heavily constrained by forecasts from the Office for Budget Responsibility, an independent Government body that provides macroeconomic and fiscal forecasts.

http://www.heraldscotland.com/business/markets-economy/moody-s-issues-warning-about-uk-aaa-credit-rating-1.1092555

Ya le habían bajado la calificación a Japón, unas semanas antes del Terremoto, el Tsunami y la fuga radiactiva.

La cosa esta muy espesa.