OTC MARKET NEWS Powered By Quantifi

Brexit Risk To UK's Top Credit Rating - S&P 

November 2, 2015

Sky News

The UK would likely lose its coveted 'AAA' credit rating should the country vote to leave the EU, an agency has warned.

Standard and Poor's (S&P) chief sovereign rating officer, Moritz Kraemer, told the news agency Reuters that the sovereign rating could even be snipped by two notches should relations with Brussels deteriorate in the event of an exit.

It also warned on the prospect of such a result triggering new calls for a vote on Scottish independence, give the SNP Government's fierce opposition to a UK withdrawal from Brussels.

A rating is created to determine the credit worthiness of a country or business - with those at the top seen as of little or no risk of default.

S&P - which is the only one of the big three agencies to still have a gold-plated AAA rating for the UK - placed it under 'negative' watch in June, citing risks to the country's prospects from the referendum.

Read More

 
Comments are closed on this post.

Subscribe

Submit your email to receive our newsletter

GO