Britain Retains S&P AAA Debt Rating

Standard & Poor's reaffirmed the UK's sovereign debt rating as AAA yesterday, prompted in part by what the rating agency described as the Government's "strong framework for fiscal consolidation." But the agency also warned that a "number of large and politically challenging spending decisions" are still to be reached that meant there was "still a material risk" that UK government debt could reach levels which would be "incompatible with the AAA rating."

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