S&P removes 'negative' outlook from UK credit rating

AA rating

Ratings agency S&P Global reviewed its outlook for the UK’s sovereign credit rating on Friday (21 April) and removed its ‘negative’ label.

The negative outlook was applied following ex-chancellor Kwasi Kwarteng's Mini-Budget in September 2022. The S&P said the current UK government's decision to abandon "most of the unfounded budgetary measures proposed in September 2022" has bolstered the fiscal outlook for the country. As a result, S&P maintained its AA rating for British government debt and changed its outlook from ‘negative' to ‘stable'. UK business activity sees sharpest drop in two years The measures passed under Liz Truss' government triggered a panic in bond markets, forcing the Bank of England to step in w...