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Risk of disorderly Brexit 'remains high' - Moody's

Risk of disorderly Brexit 'remains high' - Moody's
FILE PHOTO: British and EU flags flutter outside the Houses of Parliament in London, Britain January 30, 2019. REUTERS/Toby Melville   -   Copyright  TOBY MELVILLE(Reuters)
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LONDON (Reuters) – Britain remains at high risk of leaving the European Union in a disruptive manner that damages the economy, following a series of parliamentary votes on Tuesday on Prime Minister Theresa May’s Brexit plans, credit ratings agency Moody’s said.

“The immediate impact … is to prolong the uncertainty about the future direction of Brexit,” Moody’s analyst Colin Ellis said in a note to clients.

“The risk of a disorderly no-deal Brexit in particular remains high, and such an outcome would have significant negative credit consequences for a range of issuers,” he added.

Last week, Moody’s said a no-deal Brexit would represent a profound failure of Britain’s political institutions.

(Reporting by David Milliken; editing by Stephen Addison)

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