Friday

1st Dec 2023

Ticker

Rating agency warns of UK downgrade

Moody’s has assigned a “negative” outlook to Britain’s Aa1 credit worthiness after the EU vote, indicating a potential downgrade to come. It said the years-long extraction process from the EU would create “heightened uncertainty, diminished confidence and lower spending and investment” resulting in “weaker growth”. Standard & Poor’s, which still gives the UK the top-level AAA grade, warned prior to the vote this would likely fall if the UK leaves.

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