U.K.’s Top Credit Grade Cut by Fitch on Economy, Fiscal Outlook

Britain lost its top credit grade at Fitch Ratings, which cited a weaker economic and fiscal outlook as it became the second company to cut the country’s rating within two months.

Fitch lowered the U.K. to AA+ from AAA with a stable outlook, it said in a statement in London today. It cut its growth projection and forecast that debt would peak at 101 percent of gross domestic product in the fiscal year 2015-2016.