Moody's Downgrades UK Credit

[LongBlade]

Moody's has downgraded the UK from AAA to Aa1 due to the growing international financial crisis.

"[A]lthough the U.K.'s debt-servicing capacity remains very strong and very capable of withstanding further adverse economic and financial shocks, it does not at present possess the extraordinary resilience common to other AAA-rated issuers," Moody's said.

The U.K. had held AAA status since Moody's first began rating the country in 1978.

Source: http://money.cnn.com/2013/02/22/news/economy/moodys-uk-downgrade/index.html

[Longdan]

They don't call 'em Moody for nothin'.

[bob48]

We're all doomed.

[GDS_Starfury]