S&P Strips U.K. of Triple-A Credit Rating
June 27 2016 - 1:27PM
Dow Jones News
By Maria Armental
Standard & Poor's Global Ratings stripped the U.K. of its
pristine triple-A credit rating on Monday, warning the country's
vote to leave the European Union will lead to a less predictable,
stable, and effective policy framework.
The firm, which cut the country's ratings by two notches to
double-A, also said the vote for "remain" in Scotland and Northern
Ireland creates wider constitutional issues for the country as a
whole.
The moves comes after rival firm Moody's Investors Service
lowered its outlook on the U.K.'s credit rating to negative from
stable on Friday. But Moody's affirmed the U.K.'s rating at Aa1,
the second highest available.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
June 27, 2016 14:12 ET (18:12 GMT)
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