June 24, 2016 / 6:02 AM / a year ago

S&P says Britain's 'AAA' credit rating untenable after Brexit vote: FT

LONDON (Reuters) - Ratings agency Standard and Poor’s said Britain’s top-notch “AAA” credit rating is no longer tenable after voters opted to leave the European Union, the Financial Times reported on Friday.

Dawn breaks over the City of London, Britain June 24, 2016. REUTERS/Toby Melville

“We think that a AAA-rating is untenable under the circumstances,” Moritz Kraemer, chief ratings officer for S&P, told the FT.

Rival ratings agencies Fitch and Moodys have already stripped Britain of their AAA ratings, long before the referendum campaign began.

S&P has previously said its AAA rating for Britain reflected its assumption that the referendum would deliver a vote to remain in the EU.

Reporting by Andy Bruce; Editing by Ana Nicolaci da Costa

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below