Below-inflation funding and “consistently high” spending pressures have weakened the financial flexibility of councils and contributed to the credit rating downgrade of five authorities by Moody’s.
Growing confidence in UK policymaking in the year following the mini-budget has prompted ratings agency Moody’s to revise its credit outlook for the UK back to ‘stable’.
The heavily criticised mini-budget has put additional pressure on the UK’s debt affordability and weakened the credibility of government policy, ratings agencies have said.
The government’s ‘Growth Plan’ risks weakening public finances, worsening inequality and leading to the Bank of England aggressively raising interest rates, major international institutions have...
Rating agency Moody’s has downgraded Transport for London’s credit rating for the third time since the onset of Covid-19, partly down to ongoing uncertainty over long-term funding.
Government proposals to limit commercial investment by local authorities, including the potential re-introduction of borrowing caps, are credit positive for the sector, according to ratings...
Transport for London’s finances have been “durably and materially weakened” by Covid-19, ratings agency Moody’s said as it downgraded the body's rating for the second time since the start of the...
Reduced net migration to the UK due to Covid-19 and Brexit could create further pressure on local government finances, according to ratings agency Moody’s.
Demands to increase spending after a decade of austerity could limit the UK government’s ability to improve public finances, ratings agency Moody’s has warned.
The UK’s economy has been weakened by significant challenges relating to Brexit, with exit from the single market set to impact medium-term growth, according to ratings agency Moody’s.
The recent restrictions imposed on borrowing from the Public Works Loan Board will make budget management in the medium term more challenging, ratings agency Moody’s has said.
A London council is set to launch a private placement bond through a digital platform to refinance debt and help fund its capital programme for the next four years.
Ratings agency Moody’s has downgraded the UK’s credit rating for the third time in eight years, citing factors including a deterioration in the quality of the government’s fiscal decision-making.
Local authorities in the UK are set to experience higher fiscal pressures resulting from the coronavirus pandemic than other leading European nations, according to ratings agency Moody’s.
Ratings agency Moody’s has warned that it could downgrade the UK’s credit rating if it fails to provide a credible debt reduction strategy following Covid-19.
Full devolution of business rates to local authorities is set to lead to an increase in council debt levels as they look to borrow to invest in business development, Moody’s has concluded.
