/UK credit rating downgraded by Moody’s amid growth concerns

UK credit rating downgraded by Moody’s amid growth concerns

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Ratings agency cites weakening economy, Brexit woes and coronavirus shocks

Credit ratings agency Moody’s has downgraded Britain’s credit status, citing a decline in economic strength in the wake of the coronavirus pandemic and continued Brexit uncertainty.

With the government struggling to contain a second wave and ministers under pressure to sanction extra spending to protect businesses and jobs, Moody’s lowered the UK’s sovereign debt rating by one notch to Aa3 from Aa2.

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