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Moody's downgrades UK's outlook to negative

22 October 2022 09:42 (UTC +04:00)

Moody's Investors Service (Moody's) changed on Friday the outlook on the Government of the United Kingdom's ratings to negative while affirming the domestic and foreign-currency long-term issuer and domestic-currency senior unsecured ratings at Aa3, APA reports citing Tele Trader.

"The outlook on the Bank of England's (BoE) ratings has also changed to negative from stable and its Aa3 long-term foreign- and domestic-currency issuer and foreign-currency senior unsecured bond ratings, as well as its (P)Aa3 foreign-currency senior unsecured MTN programme rating have been affirmed," said Moody's in a statement.

The decision, added the institution, was caused primarily by two reasons: increased unpredictability in policymaking amid weaker growth prospects and elevated inflation and risks to UK debt affordability.