Save this content for laterSave this content on your device for later, even while offline Sign in with FacebookSign in with your Facebook account Close

S&P raises outlook on UK by a notch to 'stable'

By: The Associated Press
June 13, 2014 Updated: June 13, 2014 at 6:00 pm
0

SAN FRANCISCO (AP) — Standard & Poor's is brightening its outlook for the United Kingdom amid signs that the country's economy will continue to grow at a healthy rate through next year.

The reassessment issued late Friday recast S&P's view on the U.K.'s credit rating to "stable" from "negative." The influential agency also reaffirmed its top-notch "AAA" credit rating.

But S&P warned that the rating could be imperiled if Britain leaves the European Union, a move the country's Conservative Party has pledged to put to a referendum in 2017 if it wins the next general election.

Defecting from the European Union would be a significant blow because the U.K. has considerable trade ties to the region and could lose inbound investments, S&P said.

For now, S&P sees mostly positive signs. The report foresees the U.K. economy expanding by nearly 3 percent this year and 2.5 percent next year.

S&P is optimistic about worker productivity and wages increasing. The agency is also encouraged with progress being made on the U.K.'s government budget deficits.

After adding it all up, S&P concluded there is only a one-in-three chance of a credit downgrade during the next two years.

Register to the Colorado Springs Gazette
Incognito Mode Your browser is in Incognito mode

You vanished!

We welcome you to read all of our stories by signing into your account. If you don't have a subscription, please subscribe today for daily award winning journalism.

Register to the Colorado Springs Gazette
Subscribe to the Colorado Springs Gazette

It appears that you value local journalism. Thank you.

Subscribe today for unlimited digital access with 50% fewer ads for a faster browsing experience.

Already a Subscriber? LOGIN HERE

Wake up with today's top stories in your inbox

Wake up with today's top stories in your inbox

or
Already a print subscriber?
Already a digital subscriber?
 
This is your last FREE article for the month
This is your last FREE article for the month

Subscribe now and enjoy Unlimited Digital Access to Gazette.com

Only 99 cents for Unlimited Digital Access for 1 month
Then $2.31/week, billed monthly, cancel anytime
Already a print subscriber?
Already a digital subscriber?

 
You have reached your article limit for the month
You have reached your article limit for the month

We hope that you've enjoyed your complimentary access to Gazette.com

Only 99 cents for Unlimited Digital Access for 1 month
Then $2.31/week, billed monthly, cancel anytime
Already a print subscriber?
Already a digital subscriber?

 
articles remaining
×
Thank you for your interest in local journalism.
Gain unlimited access, 50% fewer ads and a faster browsing experience.