S&P: U.K. AAA Rating Long Term, A-1+ Short, Negative Outlook (7/12)

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From S&P today, read the full release.
# We are affirming our 'AAA' long-term rating on the United Kingdom reflecting our view of the U.K.'s resources, as evidenced by its wealthy and diversified economy, ample fiscal and monetary policy flexibility, and adaptable product and labor markets.

# However, in our view, a number of large and politically challenging spending decisions are still to be made, and Standard & Poor's medium-term economic forecasts for the U.K. are less optimistic than the assumptions underlying the budget. We therefore believe there is still a material risk that the U.K.'s net general government debt burden may approach a level incompatible with the 'AAA' rating.

# As a consequence, we have maintained the negative outlook on the long-term rating on the U.K.

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