MJP Posted May 21, 2009 Share Posted May 21, 2009 I'm getting reports that S&P have downgraded the UK. Can anyone confirm this? Link to comment Share on other sites More sharing options...
robblok Posted May 21, 2009 Share Posted May 21, 2009 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. Link to comment Share on other sites More sharing options...
MJP Posted May 21, 2009 Author Share Posted May 21, 2009 (edited) 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 Link to comment Share on other sites More sharing options...
MJP Posted May 21, 2009 Author Share Posted May 21, 2009 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. Link to comment Share on other sites More sharing options...
MJP Posted May 21, 2009 Author Share Posted May 21, 2009 GBP nosedive - I knew something was wrong! http://newsvote.bbc.co.uk/1/shared/fds/hi/...ncy/default.stm Link to comment Share on other sites More sharing options...
rgs2001uk Posted May 21, 2009 Share Posted May 21, 2009 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. Link to comment Share on other sites More sharing options...
GuestHouse Posted May 21, 2009 Share Posted May 21, 2009 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. Link to comment Share on other sites More sharing options...
MJP Posted May 21, 2009 Author Share Posted May 21, 2009 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. Link to comment Share on other sites More sharing options...
tahaan Posted May 21, 2009 Share Posted May 21, 2009 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 Link to comment Share on other sites More sharing options...
MJP Posted May 21, 2009 Author Share Posted May 21, 2009 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. Link to comment Share on other sites More sharing options...
noahvail Posted May 21, 2009 Share Posted May 21, 2009 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? Link to comment Share on other sites More sharing options...
phaethon Posted May 21, 2009 Share Posted May 21, 2009 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). Link to comment Share on other sites More sharing options...
MJP Posted May 21, 2009 Author Share Posted May 21, 2009 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. Link to comment Share on other sites More sharing options...
soundman Posted May 21, 2009 Share Posted May 21, 2009 Moved to business/banking/finance forum. Link to comment Share on other sites More sharing options...
neil324 Posted May 21, 2009 Share Posted May 21, 2009 Someone else's view http://ftalphaville.ft.com/blog/2009/05/21...e-uks-triple-a/ S&P downgraded the 'outlook' Link to comment Share on other sites More sharing options...
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