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Main » 2016 » June » 29 » Standard & Poor's stripped Britain of higher credit rating
Standard & Poor's stripped Britain of higher credit rating



The United Kingdom continues to reap the benefits of the so-called «Brexit»: this week the international rating Standard & Poor's downgraded the credit rating of the UK by two notches to "AA" level.



The agency warned that the exit of the country from the European Union  will affect the predictability, stability and efficiency of British politics and will cause reduction of foreign investment flow. "The so-called Brexit can lead to a deterioration of prospects for the British economy, in particular the vital importance for the country's banking sector, and even provoke a constitutional crisis if held another referendum, this time on the independence of Scotland, "- said the agency. the S & retained the P forecast" negative "of the United Kingdom and warned of a possible reduction. The rating agency also emphasized that again may reduce the credit rating of the country, if the pound lost its status as the leading reserve currency of the world, the situation in the financial sector will deteriorate, and the pace of economic growth to slow more than previously thought. The agency also noted that the need for the UK additional funding has increased to the maximum among all countries in the rating scale S & P, almost twice the rate in the United states and France. It is equally well-known agency Fitch ratings also downgraded the sovereign rating of Britain, referring to the unexpected outcome of the vote. According to Fitch's, the credit rating of the country currently stands at "AA", whereas previously the UK had a rating of "AA +". The S & the P also said it would no longer classify the British pound as a reserve currency, if the share of currency reserves of the world's central banks fall below 3%. According dannymMVF, at the end of 2015, this figure was 4.9%.




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