UK : Moody unlikely to review rating after Autumn Statement

LONDON, Sept 21 Ratings agency Moody’s said on Wednesday it will focus on the UK government’s fiscal consolidation plans at the upcoming half-yearly budget update, but is unlikely to review its assessment based just on the so-called Autumn Statement.

“I think (a review post-statement) is unlikely” said Moody’s global head of sovereign risk, Alastair Wilson.

“This is not a story that is going to become clear with a single event….What we look for is direction of travel (in fiscal consolidation) and that is what we will look for in the autumn statement,” Wilson said at a briefing in London, adding the agency would ask if the budget plans were “achievable”.

Britain’s new finance minister Philip Hammond is scheduled to deliver his first half-yearly budget update and new fiscal forecasts on Nov. 23.