Moody’s Says U.K. Faces Challenges to Meet Its Debt Targets

Moody’s Investors Service cut its growth forecasts for the U.K. and said the government will face increased difficulties in meeting its debt-reduction timetable.

“Moody’s sees rising challenges in achieving debt reduction within the timeframe that has been laid out by the government,” it said in a credit opinion in London. Still, it “believes that the U.K. government’s response to negative developments late last year indicates it commitment to restoring a sustainable debt position.”