Moody's: UK's AAA rating under threat

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Fears the UK government may undershoot its target to cut the budget deficit could threaten the country's credit rating, Moody's has warned.

The international rating agency said today its outlook for the country remains stable on the back of the government's commitment to substantially reduce its budget deficit.  However, as the government aims to virtually eliminate a budget deficit of about 10% over the next four years, a weaker growth rate could mean it fails to meet this target. Moody's said this could result in a reassessment of the country's AAA credit rating. "Moody's rates the UK at AAA, with a stable outlook. However, as we have been saying for a while now, slower growth combined with weaker-than-expected fisca...

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