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Fitch affirms United Kingdom rating at 'AA-'

12/09/2022 | 05:57pm EST
A general view of the Downing Street in London

(Reuters) - Rating agency Fitch maintained United Kingdom's sovereign debt rating at "AA-" on Friday, citing Prime Minister Rishi Sunak's macroeconomic policy framework, deep capital markets and the sterling's international reserve currency status.

The agency affirmed its outlook for the country at "negative", due to high public and external debt, as well as rising energy prices.

Despite concerns about a potential recession, investors have pinned hopes that the new government leadership will reinstill confidence in the country's fiscal health.

"The new fiscal strategy has contributed to improved financial markets confidence," Fitch said.

The agency also affirmed Bank of England's rating at "AA-", with a negative outlook.

(Reporting by Nandhini Srinivasan in Bengaluru)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) -0.10% 1.74453 Delayed Quote.-1.71%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.08% 1.64921 Delayed Quote.0.84%
BRITISH POUND / JAPANESE YEN (GBP/JPY) -0.09% 160.831 Delayed Quote.1.58%
BRITISH POUND / NEW ZEALAND DOLLAR (GBP/NZD) 0.03% 1.90946 Delayed Quote.0.42%
BRITISH POUND / SWISS FRANC (GBP/CHF) -0.09% 1.14042 Delayed Quote.2.16%
BRITISH POUND / US DOLLAR (GBP/USD) -0.08% 1.23895 Delayed Quote.2.63%
EURO / BRITISH POUND (EUR/GBP) 0.01% 0.8767 Delayed Quote.-0.87%
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