S&P reaffirms AA rating on UK, outlook clouded by Brexit
By Alexander Bueso
Date: Friday 28 Apr 2017
(ShareCast News) - Standard&Poor's reaffirmed its rating on the United Kingdom's long-term sovereign debt but warned of the potential impact on the economy from the uncertainty around the Brexit negotiations and their eventual outcome.
Analysts at S&P reiterated their AA rating on the country's long-term debt and A-1+ on the short-term debt issued by HM Treasury.
However, the outlook for both was kept at 'Negative'.
"In our opinion, Brexit continues to present a significant risk to the UK's track record of strong economic performance, and to its large financial services sector in particular.
"The leave result has also led to a less predictable and less stable institutional and policy framework for the U.K., highlighted by the snap election called for June 2017."
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