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"The over-riding concern is whether the country will be able to continue to cut its deficit in the face of weaker economic conditions and a possible deterioration in the country's financial sector," Egan-Jones said in a statement. "Unfortunately, we expect that the UK's debt/GDP (ratio) will continue to rise and the country will remain pressed." The United Kingdom currently has a AAA rating from both Standard and Poor's and Fitch Ratings and an Aaa rating from Moody's Investors Service. The economy contracted by 0.3 percent between January and March and growth in the second quarter is endangered by the mounting worries about the survival of the euro.