UK could lose coveted AAA rating, warns Fitch

"In a major setback for George Osborne ahead of next week’s Budget, Fitch said the “risks and uncertainty” surrounding the Coalition’s debt reduction plans were “material”.

Fitch said it regarded the Government’s fiscal plans as “credible”, but said that its decision to take a negative outlook reflected “the very limited fiscal space to absorb further adverse economic shocks in light of such elevated debt levels and a potentially weaker than currently forecast economic recovery”.

at http://www.telegraph.co.uk/finance/economics/9144551/UK-could-lose-coveted-AAA-rating-warns-Fitch.html