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S&P affirms UK’s sovereign credit rating at ‘AA/A-1+’

© Reuters. Pedestrians cross London Bridge during the commute to work in the City of London June 22, 2012. Ratings agency Moody’s downgraded 15 of the world’s biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses th

(Reuters) – Ratings agency S&P Global (NYSE:SPGI) affirmed the United Kingdom’s sovereign credit rating at “AA/A-1+” on Friday, saying high income levels and its large, diversified economy and financial sector support growth.

“The ratings could come under pressure if economic growth is significantly weaker than we anticipate, challenging fiscal consolidation”, S&P said in its statement, citing the fallout from Russia’s invasion of Ukraine as a possible risk.

The agency maintained its outlook on the country’s sovereign debt at “stable”.

S&P affirms UK’s sovereign credit rating at ‘AA/A-1+’

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