Britain given credit rating warning The UK has been warned that it could lose its AAA credit rating following weaker growth than expected and the potential for shocks from the eurozone crisis. Ratings agency Moody's put Britain on "negative outlook" on Monday evening, increasing the chance of the country being stripped of its AAA status. Chancellor George Osborne said the assessment showed the Government's austerity programme was necessary and that it was a "reality check for anyone who thinks Britain can duck confronting its debts." Moody's downgraded the ratings of six countries and also put France and Austria on the same caution as the UK amid violent protests in Greece over stringent measures to secure a fresh bailout. Mr Osborne also said: "This is proof that, in the current global situation, Britain cannot waiver from dealing with its debts. Moody's are explicit that it is only the Government's 'necessary fiscal consolidation' that is stopping an immediate downgrade, which would happen if there were any 'reduced political commitment to fiscal consolidation including discretionary loosening'.