UK set to keep AAA credit rating
Jake has welcomed the news from Standard & Poor, the credit ratings agency that the UK is set to retain the AAA status. This is the best credit rating that can be given to a borrower’s debts indicating that the risk of borrowing defaulting is miniscule.
This is in contrast to Standard & Poor’s threat to downgrade the credit rating of the majority of countries in the Eurozone, including Germany and France. According to Standard & Poor it is vindication of the Coalition’s fiscal policy.
Jake said, “Keeping our AAA rating has saved the average family in Rossendale and Darwen £1,000 a year on their mortgage. While we are all struggling to make ends meet, today’s news confirms that dealing with our debt crisis helps keep our credit rating high and our interest rates low which helps businesses grow and helps families balance their books.”
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