UK loses top AAA credit rating for first time since 1978

The United Kingdom lost its top AAA credit rating for the first time since 1978 in February 2013 on expectations that growth would 'remain sluggish over the next few years'.

The ratings agency Moody's became the first to cut the UK from its highest rating, to Aa1 on the 22 february 2013.

ESO: Background information: Moody’s takes shot at UK’s triple A rating http://www.europeansources.info/record/moodys-takes-shot-at-uks-triple-a-rating/

Deutsche Welle, 22.02.13: Ratings agency Moody's downgrades UK from AAA to AA1 http://www.dw.de/ratings-agency-moodys-downgrades-uk-from-aaa-to-aa1/a-16623269

France24, 23.02.13: Moody’s downgrades Britain’s AAA rating http://www.france24.com/en/20130223-moodys-downgrades-uk-britain-credit-rating-aaa-aa1-debt-economy

EUObserver, 25.02.13: UK downgrade rounds off EU's Black Friday http://euobserver.com/economic/119177

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