UK placed on negative watch on debt fears

Britain's much-cherished triple-A rating was under threat on Thursday after Standard & Poor's, one of the big three ratings agencies, placed the country on negative watch.

The ratings agency affirmed the United Kingdom's triple-A long-term and A1+ short-term sovereign ratings, but said that it had revised its outlook from negative to stable.

"We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tightening, the net general government debt burd