S&P warns the U.K. of a possible credit rating downgrade

Britain's investment-grade, AAA credit rating remains at risk despite the government's plan to slash spending and narrow its budget deficit, Standard & Poor's said. The credit rating agency left the U.K.'s status unchanged but said there is a risk that the "net general government debt burden may approach a level incompatible with the 'AAA' rating." The Treasury agreed that more needs to be done to strengthen its finances.

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