Fitch says UK credit profile has deteriorated

An employee is seen walking over a mosaic of pound sterling symbols set in the floor of the front hall of the Bank of England, in London in this March 25, 2008 file photograph. REUTERS/Luke MacGregor/Files

An employee is seen walking over a mosaic of pound sterling symbols set in the floor of the front hall of the Bank of England, in London in this March 25, 2008 file photograph.

Credit: Reuters/Luke MacGregor/Files

LONDON | Tue Mar 9, 2010 10:38am GMT

LONDON (Reuters) - Britain's sovereign credit profile has deteriorated but the country was still within tolerance of a triple-A rating, Fitch Ratings said on Tuesday.

Brian Coulton, Fitch's head of Europe, Middle East and Africa sovereign ratings, told a conference in London the UK needed stronger fiscal adjustment, adding the rating agency was "uncomfortable with the fiscal adjustment path set out by UK authorities."

Among larger triple-A rated sovereigns, the urgency for adjustment was greatest for UK, Spain and France.

Fitch has a triple-A rating with a stable outlook for the UK, Spain and France.

(Reporting by Ian Chua and William James; Editing by Ruth Pitchford)

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