S&P affirms the UK rating at AAA; Outlook is still negative

Standards & Poor's rating agency affirmed the United Kingdom sovereign debt at AAA according to a recent press release published by the agency. They expect the deficit decline to 4.2% of GDP in 2016.

S&P says that the outlook remains negative on the back of possibility of poor economic and fiscal performance. However, the agency pointed that the UK government remains committed to implement fiscal reforms. S&P expects the government debt to GDP ratio to be over 95%.