Downgrades: 6 Things You Need To Know
Automotive Manufacturing in the United Kingdom
What do rating agencies do? The big three rating agencies — Fitch, Standard & Poor’s and Moody’s — rate debt based on the likelihood that it will be repaid. They rate everything from obscure derivatives to government bonds, with the safest bets labeled AAA. Some firms use their ratings as guidelines when making investment decisions. Related: Survey says economists aren’t concerned What are the U.S. ratings? U.S. debt had been rated AAA by all three agencies for as long anyone can remember. Moody’s, for example, first assigned the United States a AAA rating in 1917. Right now, Fitch and Moody’s have a AAA rating on U.S. debt. The country’s S&P rating is AA+ — still strong, but not the highest. It’s on par with that of France, but below countries like the United Kingdom and Australia.
Go Home: United Kingdom Set To Send 267 Nigerian Prisoners Back Home
Punch reports that talks are continuing into reaching a compulsory prisoner transfer agreement, which could see more than half of the 534 criminals from Nigeria currently in UK jails repatriated. UK Prisons Minister, Jeremy Wright, told MailOnline how more foreign prisoners must serve their sentences in their own countries. Ministers have been ordered to step up efforts to end the scandal of more than one in eight prisoners being from overseas. British Prime Minister, David Cameron vowed to end the practice of the British taxpayer picking up the bill for criminals with no business in the UK. The Prime Minister said in 2010 that he would personally intervene to send more foreign criminals home. Britain has even made clear it would pay to build new prisons in countries like Nigeria to speed up the process of sending foreign criminals home. Up to 1m has been promised to upgrade Nigerian jails, including a new wing at Kirikiri Prison in Lagos. But to date little progress has been made. When the coalition was formed there were 11,135 foreign prisoners in UK jails, and this figure has fallen by just three per cent since to 10,786. Each felon costs an average of around 40,000 a year to keep inside. This post was written by
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