S&P affirms UK's sovereign debt rating at 'AA'

Ratings agency Standard & Poor's affirmed the United Kingdom's sovereign debt rating at 'AA' on Friday, saying the government's pandemic response efforts helped limit the hit to its economy. The agency maintained its outlook at "stable" on Britain's sovereign debt.

Ratings agency Standard & Poor's affirmed the United Kingdom's sovereign debt rating at 'AA' on Friday, saying the government's pandemic response efforts helped limit the hit to its economy. The rating action comes a day after Britain's finance minister offered more cash to prop up businesses reeling from the coronavirus crisis, as new curbs to tackle a resurgence in cases threaten a nascent economic recovery.

The UK government and the Bank of England have demonstrated significant fiscal and monetary flexibility in their response to the pandemic, said S&P in a statement https://www.standardandpoors.com/en_US/web/guest/article/-/view/type/HTML/id/2543562. The agency maintained its outlook at "stable" on Britain's sovereign debt.