S&P affirms UK's sovereign debt rating at 'AA'

Oct 23 (Reuters) - Ratings agency Standard & Poor’s affirmed the United Kingdom’s sovereign debt rating at ‘AA’ on Friday, saying the government’s pandemic response efforts helped limit the hit to its economy.

The rating action comes a day after Britain’s finance minister offered more cash to prop up businesses reeling from the coronavirus crisis, as new curbs to tackle a resurgence in cases threaten a nascent economic recovery.

The UK government and the Bank of England have demonstrated significant fiscal and monetary flexibility in their response to the pandemic, said S&P in a statement here.

The agency maintained its outlook at “stable” on Britain’s sovereign debt. (Reporting by Aditi Sebastian in Bengaluru; Editing by Devika Syamnath)