Landmark’s Blog
UK's long term sovereign credit rating put on negative outlook
Published on 3rd June, 2009 at 14:34 by Eric Mowinski.
Standard and Poors credit agency have put the UK sovereign debt on a negative outlook.
I hate to be the bearer of ongoing bad news but at this time when we are seeing markets pick up and politicians talk about signs of recovery (when they are not resigning over expenses claims) it is necessary to keep our feet firmly on the ground.
For investors the decisions they makeover the next 6 to 12 months will be crucial to the medium term performance of their portfolios. As I speak to people the message I get is that they are waiting out the storm. This maybe ok in the short term but in the medium term outlook it is going to prove incorrect. What is need is a change of direction.
Anyway, back to UK debt. The change in outlook does not mean the UK will be downgraded from its AAA rating but it is a sign that there are no guarantees and the level of debt we are carrying is at worrying levels.
Posted under the following tags: governmentdebt, stockmarket, standardpoors.
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