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Moody’s to review UK’s AAA rating in early 2013

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Moody’s says it will review the UK’s AAA rating in early 2013 after warning about the weak economy and the eurozone debt crisis.

The ratings agency says the Government’s effort to cut its debt “are being hampered by weaker economic prospects as well as by the risks posed by the ongoing euro area sovereign debt crisis”.

According to the Telegraph however, Moody’s did point to “significant structural strengths” in the UK economy, including a “very favourable debt structure” and a “large, diversified, highly competitive economy, a very flexible labor force and its track record of structural reform”.

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