Bank of England Governor Mervyn King told that ratings agencies are liable to remain uncertain about the UK's fiscal position but the country surely is in no danger of a demotion of its triple-A status.

Britain's budget deficit may hit a record high above 12 percent this year. But the opposition party members presume that Britain may lose its triple-A credit rating and face a debit crisis.

King said, "I don't believe the rating agencies are concerned, in the sense that they are not re-rating the UK and I would be very surprised if they were to do so".

He uttered that Britain differs from countries like Greece in many ways.

He refuses to be a part of political argument about when the fiscal consolidation should start. He just revealed the facts that spending cuts will take some time to occur.

"We do have a very large fiscal deficit and we are yet to tackle that and the rating agencies are bound to remain somewhat uncertain until we see measures clearly announced and defined that will deal with the fiscal deficit. It's very clear we have a political consensus on the need for fiscal consolidation", King said.