Fitch Downgrades United Kingdom To ‘aa+’; Outlook Stable

The MedicX Fund Limited Acquisition of a new primary healthcare centre

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At the same time, the agency has affirmed the UK’s Short-term foreign currency rating at ‘F1+’ and the Country Ceiling at ‘AAA’. The rating actions follow the conclusion of the review of the UK’s sovereign ratings initiated on 22 March and resolve the Rating Watch Negative. The previous Negative Outlook on the UK’s sovereign ratings had been in place since 14 March 2012. KEY RATING DRIVERS The downgrade of the UK’s sovereign ratings primarily reflects a weaker economic and fiscal outlook and hence the upward revision to Fitch’s medium-term projections for UK budget deficits and government debt. Despite the loss of its ‘AAA’ status, the UK’s extremely strong credit profile is reflected in its ‘AA+’ rating and the Stable Outlook. – Fitch now forecasts that general government gross debt (GGGD) will peak at 101% of GDP in 2015-16 (equivalent to 86% of GDP for public sector net debt, PSND) and will only gradually decline from 2017-18. This compares with Fitch’s previous projection for GGGD peaking at 97% and declining from 2016-17 and the ‘AAA’ median of around 50%. – Fitch previously commented that failure to stabilise debt below 100% of GDP and place it on a firm downward path towards 90% of GDP over the medium term would likely trigger a rating downgrade. Despite the UK’s strong fiscal financing flexibility underpinned by its own currency with reserve currency status and the long average maturity of public debt, the fiscal space to absorb further adverse economic and financial shocks is no longer consistent with a ‘AAA’ rating. – Higher than previously projected budget deficits and debt primarily reflects the weak growth performance of the UK economy in recent years, partly due to headwinds of private and public sector deleveraging and the eurozone crisis. Fitch has revised down its forecast economic growth in 2013 and 2014 to 0.8% and 1.8%, respectively, from 1.5% and 2.0% at the time of the last review of the UK’s sovereign ratings in September 2012. The UK economy is not expected to reach its 2007 level of real GDP until 2014, underscoring the weakness of the economic recovery. – Despite significant progress in reducing public sector net borrowing (PSNB from a peak of 11.2% of GDP (GBP159bn) in 2009-10, the budget deficit remains 7.4% of GDP (excluding the effect of the transfer of Royal Mail pensions) and is not expected to fall below 6% of GDP and GBP100bn until the end of the current parliament term. The slower pace of deficit reduction means that the next government will be required to implement substantial spending reductions (and/or tax increases) if public debt is to be stabilised and reduced over the medium term. The Stable Outlook on the UK’s sovereign ratings reflects the following factors.

United Kingdom travel guide

October 2013

United Kingdom Trade of Copper Tubes and Pipes: Import, Export, Market Prospects This report will be of considerable interest primarily to relevant strategic planners, senior company officials and importers/exporters, since it features invaluable information on copper tubes and pipes export/import operations in United Kingdom. The 2002-2012 period is covered, with more emphasis on foreign trade in 2012. The report studies how United Kingdom behaves on the global market for copper tubes and pipes. It also assesses the dynamics of country’s foreign trade in copper tubes and pipes in 2002-2012. The report indicates major suppliers and consumers of copper tubes and pipes in United Kingdom. The final chapter provides in-depth analysis of prospects for the country’s foreign trade in copper tubes and pipes, as well the forecast for the development of the market for copper tubes and pipes in 2013-2017. Such parameters as trade value ($) and net weight (kg) are used in the analysis. We present average price forecast for copper tubes and pipes. More than 10 tables and diagrams comprise data on foreign trade in over 100 countries. Key Topics Covered: 1. Resume: United Kingdom Trade Of Copper Tubes And Pipes 2. United Kingdom Exports Of Copper Tubes And Pipes 3. United Kingdom Imports Of Copper Tubes And Pipes 4.

You must enter the verification code below to send. Invalid entry: Please type the verification code again. September 23, 2013, 4:45 a.m. ET The MedicX Fund Limited Acquisition of a new primary healthcare centre (“MedicX Fund”, “the Fund” or “the Company”) Acquisition of a new primary healthcare centre MedicX Fund, (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, is pleased to announce that it has contracted to acquire a new primary healthcare medical centre in Watford, Hertfordshire which is due to be completed in December 2013. The property will be let to two GP practices, a pharmacy and the Hertfordshire Partnership NHS Foundation Trust. The GP and pharmacy leases are for 20 and 35 years respectively subject to three-yearly rent reviews, the pharmacy being indexed to RPI. The Foundation Trust’s ten year lease is for shell accommodation subject to five-yearly market rent reviews. The total acquisition cost of the property is GBP7.74 million. The MedicX Fund’s total property portfolio now comprises 123 properties throughout the United Kingdom of which 111 are complete, 10 are under construction and two are yet to start construction. The annualised rent roll for all properties is now GBP28.8 million. – End – For further information please contact: MedicX Group +44 (0) 1483 869 500 Keith Maddin, Chairman Mike Adams, Chief Executive Officer Mark Osmond, Chief Financial Officer Buchanan +44 (0) 20 7466 5000 Charles Ryland/Sophie McNulty/Helen Greenwood MedicX Fund Limited +44 (0) 1481 723 450 David Staples, Chairman Information on MedicX Fund Limited MedicX Fund Limited (“MXF”, “MedicX Fund”, “the Fund” or “the Company”, or together with its subsidiaries, the “Group”) is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 123 properties. The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Conduct Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 30 people operating across the UK. The Company’s website address is www.medicxfund.com.

Research and Markets: United Kingdom Trade of Copper Tubes and Pipes: Import, Export, Market Prospects – 2013-2017

Taken as a whole the United Kingdom contains more heritage, per square mile, than any other nation, tracts of stunningly beautiful countryside, a coastline to die for and some of the most vibrant, multicultural cities on the planet. London is the usual gateway, and there’s enough here to keep you busy for weeks. The Tower of London and St Paul’s Cathedral are obvious highlights, and there are always huge queues outside Madame Tussauds’ though it’s not immediately obvious why. The city of Bath is the second most visited city in the UK, a mellow city built from quarried stone. This is a refreshing relief from the buzz of the capital and far more compact: it’s eminently walkable. It’s hard to choose amongst the country’s attractions. Within easy reach of London the city of Oxford is more than just its famous University: it’s a beautiful city of golden stone. Cambridge also has its granite charms, but is best explored by bicycle – it sits on a plain. Head west to Dorset, Devon and Cornwall for spectacular coastal views, and edge up into Wales if you want them to yourself. Visitors don’t often target the cities in Wales: it’s best known for its wild and beautiful interior and wild an undeveloped coast. The White Cliffs of Dover are seen at their best from the sea, but Kent is known as ‘the garden of England’ for good reason: pretty villages and rolling countryside is manicured to perfection.