It is far more likely the UK will retain its prized triple-A status than be downgraded, according to the bookies which seem unperturbed by the recent ratings agency threat.
Paddy Power odds strongly suggest the UK will retain its Aaa status by the end of the year after ratings agency Moody's put the country's credit rating on negative outlook earlier this week.
The bookie is offering odds of just 1/3 the UK will retain its triple-A status - the same odds it is giving Mitt Romney, the favourite GOP candidate, of winning the Republican nomination.
The US is in a similar position to the UK, with 4/11 on offer Moody's also retains its Aaa status. In August, rival ratings agency Standard & Poor's downgraded the country's top-notch credit rating for the first time in its history from AAA to AA+.
"Who would have thought rating agencies would have become so topical, they seem to be falling over themselves trying to get the next rating change out there - now at least punters have a chance to have a bit of fun with a flutter on the rate race," said Paddy Power.
However, Ireland - which was downgraded by Moody's to junk in July - fares less well. Paddy said the most likely option is the country retains its Ba1 rating. If a ratings change is on the cards for Ireland it will most likely be a downgrade, the bookie added.
Paddy Power odds
Moody's rating for UK at year end
2/1 Aa1 or lower
Moody's rating for Ireland at year end
8/1 Baa3 or higher
5/2 Ba2 or lower
Moody's rating for USA at year end
15/8 Aa1 or lower
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