Moody's: Triple-dip recession would cost UK its AAA-rating

Global credit ratings agency Moody's has warned the UK is at risk of losing its AAA status should the economy slide into a triple-dip recession.

The agency's comments follow the Bank of England's decision yesterday to slash its growth forecast for 2013 to 1%. The UK could struggle to raise revenues amid a more sluggish economic environment, making the task of cutting the deficit more difficult. According to the Guardian, Moody's met with Chancellor George Osborne (pictured) on Wednesday as part of the agency's annual assessment of the British economy. Th agency said it will be closely monitoring Osborne's strategy of balancing economic growth with deficit reduction. According to a Moody's statement, the firm is most concern...