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Fitch Places United Kingdom on Rating Watch Negative

FXstreet.com (San Francisco) - Fitch Ratings has placed the United Kingdom sovereign debt under rating watch negative as they will decide within downgrade the UK or not in the near term. The decision will be taken by the end of April.

The Agency is concerned in recent published forecast that says the "UK government debt will peak later and at a higher level than previously expected by Fitch," points the official press release.

"General government gross debt (GGGD) and public sector net debt are forecast by the OBR to peak in 2016-17 at 100.8% and 85.6% of GDP and only begin to decline in 2017-18," says the document. "Fitch has previously stated that GGGD failing to stabilize below 100% of GDP and on a firm downward path towards 90% over the medium term would likely result in a downgrade of the UK's sovereign ratings."

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