Why sovereign credit downgrades no longer matter as much as they used to
- Written by Ghulam Sorwar, Professor of Finance, Keele University
Tall buildings, smaller credit rating. Jeremy ReddingtonThe decision by credit ratings agency Moody’s to cut the UK’s sovereign credit rating has been a gift to the government’s critics. The agency downgraded the UK from Aa3 to Aa2 on the rationale that its heavy reliance on face-face services would mean that economic growth...
