News Headline Summary

Fitch says the risks of Britain losing it AAA status are clearly increasing

- Fitch warned it could downgrade if the country's budget in March shows debt levels continuing to rise.
- Says that if forecasts for peak debt and the trajectory for debt coming down are still consistent with reducing debt however if they worsen then it could lead to a negative outcome.

Update details:

- As a reminder the budget is due to be announced on March 20th.
- All three major credit rating agencies have the UK at the top-rated triple-A currently.

Reaction details:

- In reaction to these comments GBP/USD moved lower by 15 pips going from 1.6084 to 1.6069.

Print 17:04, 15 Jan 2013 - Rating Agency comments - Source: Newswires