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Fitch Says U.K. Spending Review Consistent With AAA Rating

The U.K. government’s Comprehensive Spending Review, announced today by Chancellor of the Exchequer George Osborne, is consistent with a top AAA rating, Fitch Ratings said in a statement today.

The review “enhances the credibility of the U.K. budget reduction plan,” the statement said. “Despite the pace of fiscal consolidation, Fitch expects the U.K. economic recovery to continue, albeit at a modest pace.”