Moody's Changed UK's Rating Outlook to Stable

Moody's Changed UK's Rating Outlook to Stable Moody's changed the UK's rating outlook to stable. In addition, the country's credit rating was also lowered. International credit rating agency Moody's lowered the UK's credit rating. The organization lowered the credit rating of England from "Aa2" to "Aa3". It revised its rating outlook as 'stable'. In the statement made by the international credit rating agency Moody's, it was stated that the long-term credit rating of UK was lowered from "Aa2" to "Aa3", and the rating outlook was changed from negative to stable. It was pointed out that the financial power of the country has decreased and the growth was below the predictions, that it is likely to continue in the coming period. Negative long-term structural dynamics are worsened by the country's decision to leave the European Union (EU) and subsequent failure to reach a trade agreement with the EU. In addition, the country's debt was already high before the crisis; reported that they got in more debt even more due to the epidemic. On the other hand, Moody's stated that the UK's institutions and management have weakened in recent years, and the policy-making process, especially in relation to fiscal policy, has turned into less efficient and predictable.