Loans and Finance

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Friday, May 22, 2009

Threat To Credit Rating

Standard & Poor's have threatened the Chancellor's reputation, by saying that it was revising its outlook for Britain's "triple A" debt rating to "negative" from "stable".

Any future downgrading would cost the Treasury more in interest payments on government debt.

That being said, ratings agencies happily gave banks and their pyramid scam schemes triple A ratings in the past; why should anyone set much store by their ratings now?

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