Getting Reports

[MJP]

I'm getting reports that S&P have downgraded the UK.

Can anyone confirm this?

[robblok]

I'm getting reports that S&P have downgraded the UK.

Can anyone confirm this?

I did not know there were things lower as the UK. A while back the pound was almost 1 euro.

Just teasing i havent heard it but i havent been following the markets since i stopped working at a stock trading company.

[MJP]

http://www.reuters.com/article/marketsNews...L18030120090521

LONDON, May 21 (Reuters) - Ratings agency Standard & Poor's lowered its outlook on Britain to negative on Thursday while affirming its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings.

"We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tightening, the net general government debt burden could approach 100 percent of GDP and remain near that level in the medium term," Standard & Poor's credit analyst David Beers said in a statement

GET SOME MONEY OUT NOW!

Edited May 21, 2009 by MJP

[MJP]

http://www.bloomberg.com/apps/news?pid=206...id=aHjgxN4RCWP0

May 21 (Bloomberg) -- The United Kingdom’s outlook was revised to negative from stable at Standard & Poor’s Ratings Services today.

The pound fell against the dollar to trade at $1.5610 and the FTSE 100 Index dropped as much as 2.7 percent.

[MJP]

GBP nosedive - I knew something was wrong!

http://newsvote.bbc.co.uk/1/shared/fds/hi/...ncy/default.stm

[rgs2001uk]

Ah good old S&P, masters of the blatantly obvious.

Is that the odour of freshly soiled underwear from those reliant on £ based pensions I ask myself.

[GuestHouse]

I'm getting reports that S&P have downgraded the UK.

When you said you were 'getting reports' I had in mind you might have some insider information.... but it turns out you were 'getting reports off the internet'.

Oh well.

[MJP]

I'm getting reports that S&P have downgraded the UK.

When you said you were 'getting reports' I had in mind you might have some insider information.... but it turns out you were 'getting reports off the internet'.

Oh well.

No a friend from the city. Email.

[tahaan]

They're apparently not foolproof. From Wikipedia - It is also worth mentioning that Standard & Poor's apparently failed to predict the bankruptcy of all largest Icelandic banks and a weaker position of Icelandic Government in 2008, a country that had a very high rating until its economy suddenly collapsed.

Link

[MJP]

They're apparently not foolproof. From Wikipedia - It is also worth mentioning that Standard & Poor's apparently failed to predict the bankruptcy of all largest Icelandic banks and a weaker position of Icelandic Government in 2008, a country that had a very high rating until its economy suddenly collapsed.

Link

They along with the aptly named 'Moody's' were the ones who made the whole MBS/CDO/CDS carnage possible, by getting paid off to give them AAA ratings.

Yes, to$$er$ the lot of them.

[noahvail]

They along with the aptly named 'Moody's' were the ones who made the whole MBS/CDO/CDS carnage possible, by getting paid off to give them AAA ratings.

Yes, to$er$ the lot of them.

Just venting, or for real?

[phaethon]

I'm getting reports that S&P have downgraded the UK.

S&P do great miniature vanilla éclairs. And they're right, much tastier than the UK versions (Greggs).

[MJP]

They along with the aptly named 'Moody's' were the ones who made the whole MBS/CDO/CDS carnage possible, by getting paid off to give them AAA ratings.

Yes, to$er$ the lot of them.

Just venting, or for real?

Admitted by S&P ratings guy in TV interview. It was a documentary by Hugh Hendry the Hedge Fund manager in London.

[soundman]

Moved to business/banking/finance forum.

[neil324]

Someone else's view

http://ftalphaville.ft.com/blog/2009/05/21...e-uks-triple-a/

S&P downgraded the 'outlook'