3rd rating agency threaten to downgrade Britain to outlook 'negative'

Standard & Poor’s lowered its outlook on Britain’s top credit rating to negative, citing weak economic growth and a worsening debt profile.

S&P, which has cut the US and France to AA+, said its decision reflected the weak recovery in Britain and sharply rising national debt. Many economists now believe the UK will lose its cherished top-notch rating, with one of the three agencies expected to move in 2013.

S&P Cuts UK Outlook to Negative on Risks from weak economy

This is now the 3rd rating company to threaten to downgrade Britains AAA status. This means that there is now a one-in-three change that they could get lower ratings in the next two years, possible already next year. Britain, Canada and Germany are the only G7 countries still rated AAA by all three agencies.

While I personally thing Britain will survive this and it will not come to a downgrading, you see the markets already reacting and this is not a good sign because it makes things only worse

The sooner this whole financial system comes crashing down the better.

I think we have a long way to go yet.