S&P downgrades Britain credit rating to (AA) following Brexit vote

LONDON, June 27 (KUNA) — The Standard & Poor’s announced on Monday that it downgraded the credit ranking of Britain’s economy from (AAA) to (AA) after a Brexit vote.
The referendum on Britain’s withdrawal from the European Union last Thursday may lead to a negative effect on Britain’s economy, including the services sector, a key one in the country, British media said, citing the ratings agency.
S&P said this outcome is a seminal event, and will lead to a less predictable, stable, and effective policy framework in Britain.
It added that it has reassessed its view of Britain’s institutional assessment and now no longer consider it a strength in its assessment of the rating.
S&P warned against an extension of negative impacts on investors’ confidence and consequently a decline in foreign investments.
During today’s trading, the British currency traded at around USD1.320 at 12:10 a.m. London time on Monday, below the 31-year low of USD 1.3224 reached on Friday. The pound dropped by two percent against euro to stood at 1.19. (end) mrn.hm

Related Post
نيكسن تاير تضع حجر الأساس لمركز تقنية إطاراتها الجديد في أوهايو بالولايات المتحدة المركز سيوفر
أبوظبي، الإمارات العربية المتحدة، 19 أكتوبر 2017 /PRNewswire/ — حصد أطفال المدارس الروس ثلاث ميداليات
جينيف، سويسرا، 20 أكتوبر 2017 /PRNewswire/ — ترقق العظام هو مرض خفي لا يخلو من