Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

No-deal Brexit to cause "a few" ratings actions on UK borrowers: S&P Global

No-deal Brexit to cause "a few" ratings actions on UK borrowers: S&P Global
FILE PHOTO: Anti-Brexit protesters hold flags outside the Houses of Parliament in London, Britain September 25, 2019. REUTERS/Peter Nicholls -
Copyright
Peter Nicholls(Reuters)
Euronews logo
Text size Aa Aa

(Reuters) – Britain crashing out of the European Union without agreeing an exit deal could lead to “a few” ratings downgrades, outlook revisions and creditwatch actions on UK entities most vulnerable to the resulting economic disruption, S&P Global said on Friday.

The automotive, leisure, retail, real estate, aerospace and defense, and transport infrastructure were the most exposed sectors.

The ratings agency said no-deal Brexit could change its broadly stable ratings assessment on British banks, but saw outlook revisions as more likely than downgrades in the near term.

It also has a ‘negative’ outlook on its ‘AA/A-1+’ sovereign credit rating following a double-notch downgrade from AAA shortly after the 2016 referendum to leave the EU.

“The outlook on the ratings is negative, reflecting the risk of sustained economic weakness and deterioration in government finances in a no-deal Brexit,” the report said.

(Reporting by Sujata Rao; editing by Marc Jones)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.