Fitch warns UK over AAA rating

Close up of the Union flag

Rating agency Fitch on March 14 affirmed the UK's AAA rating, but revised the outlook for the top ranked rating to negative.

Fitch confirmed that its latest review of the UK's position resulted in the long-term foreign currency issuer default rating (IDR) being maintained as AAA. This "reflects the progress made in reducing the government's structural budget deficit and the credibility of the fiscal consolidation effort", said the rating agency.

However, the outlook on the long-term IDRs was

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