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

Mon Jun 27, 2016 4:33pm EDT
 
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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.

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)

 
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