LONDON (Reuters) - Ratings agency Standard & Poor's could revise back its negative outlook for Britain's sovereign debt rating given the uncertainty in the economic outlook, the Treasury said on Thursday.
"There are significant uncertainties in the global economy at the present time and S&P point out that the outlook could be revised back to stable 'if fiscal outturns are more benign than currently (they) currently anticipate'," a Treasury spokesman said.
"The Budget set out a clear plan to halve the deficit in five years. That judgement was based on a deliberately cautious view of the public finances," the Treasury said.
S&P affirmed its triple-A long-term outlook for British sovereign debt on Thursday but downgraded its outlook to 'negative' from 'stable'.
(Reporting by Sumeet Desai and Matt Falloon, writing by David Milliken)