Fitch says UK's AAA rating safe for now

Fitch Ratings praised the "strong budgetary consolidation effort" undertaken by the UK government and said the fiscal risks to the country were declining. "The affirmation reflects that the UK's 'AAA' ratings remain underpinned by its high value-added, wealthy and flexible economy; strong financial flexibility underpinned by a deep government bond market and the British pound's continuing status as a 'reserve currency', as well as political and social stability," write Fitch analysts. The main risks to the UK remain the threat of a double dip recession and the potential for new writed...