Why sovereign credit downgrades no longer matter as much as they used to
- Written by Ghulam Sorwar, Professor of Finance, Keele University

The 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...