UK's credit rating downgraded
Britain's credit rating has been downgraded from the top AAA rating to AA1 by the Moody's credit rating agency.
Moody's: UK's economic recovery will remain slow
The statement from Moody's confirming Britain's downgraded credit rating highlighted the problems the weak medium-term economic outlook poses for deficit reduction plans.
The agency said it now expects the "period of sluggish growth" to "extend into the second half of the decade", adding:
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Credit rating downgrade is a big blow for Osborne
The decision by the ratings agency Moody's to downgrade the UK's AAA credit rating, is unwelcome news for the Government.
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What are credit ratings and why do they matter?
Britain's loss of its triple-A credit rating is grim news for the Chancellor. But why does the marginal downgrading carry such a high price?
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Has credit blow downgraded Chancellor's reputation?
George Osborne had set great store by Britain's triple-A badge. But is the loss of the rating a loss of confidence in his policies?