Moody's downgrades Britain debt outlook to negative
[WASHINGTON] Credit ratings agency Moody's on Friday downgraded the outlook for Britain's debt, citing increasing difficulty dealing with policy challenges the country faces amid the Brexit debate.
The agency cut the outlook to negative from stable but kept the debt grade at Aa2.
Pointing to "paralysis that has characterised the Brexit-era policymaking process," Moody's said London has "struggled to cope with the magnitude of policy challenges that they currently face."
In addition, Britain's "economic and fiscal strength are likely to be weaker going forward and more susceptible to shocks than previously assumed," Moody's said in a statement.
AFP
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Ecuador president declares state of emergency over energy crisis
US Senate has agreement on Fisa reauthorisation, will vote on Friday night, Schumer says
US expects to finalise new Aukus trade exemptions in next 120 days
IMF concerned about debt, fiscal challenges facing low-income countries
Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising
Colombian fund managers eye US$750 million fee bonanza after senators tweak pension bill