Moody's says will revisit UK's Aaa rating in early 2013

NEW YORK Wed Nov 14, 2012 4:58pm EST

NEW YORK Nov 14 (Reuters) - Moody's Investors Service will revisit the United Kingdom's Aaa rating in early 2013, the credit ratings agency said on Wednesday, warning about the weak economy and the euro zone's debt crisis.

The rating and its negative outlook are underpinned by "significant structural strengths," Moody's said in a statement on its annual credit report on the UK.

But government efforts to cut the debt "are being hampered by weaker economic prospects as well as by the risks posed by the ongoing euro area sovereign debt crisis," Moody's said.

"Although these challenges are currently reflected in the negative outlook on the UK's sovereign rating, Moody's will revisit the Aaa rating and outlook in the first few months of 2013 to assess the impact of these challenges and of the government's upcoming autumn Statement," Moody's added.

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