June 27, 2016 / 8:37 PM / a year ago

Fitch cuts UK credit rating by one notch to AA after Brexit vote

LONDON (Reuters) - Fitch Ratings cut Britain’s credit rating on Monday and warned more downgrades could follow, joining Standard & Poor’s in judging that last week’s vote to leave the European Union will hurt the economy.

Vote Leave supporters holds up Union flags in Westminster after Britain voted to leave on the European Union in London, Britain, June 24, 2016. REUTERS/Toby Melville

Fitch downgraded the United Kingdom’s sovereign rating to “AA” from “AA+” and said the outlook was negative - meaning that it could further cut its judgment of the country’s creditworthiness.

Earlier on Monday, S&P stripped Britain of its last remaining top-notch credit rating, slashing it by two notches and similarly warning that more downgrades could follow.

Reporting by Andy Bruce; editing by William James

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