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S&P says it could cut UK rating after no-deal Brexit

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S&P says it could cut UK rating after no-deal Brexit
FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018. REUTERS/Brendan McDermid   -   Copyright  BRENDAN MCDERMID(Reuters)
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LONDON (Reuters) – Ratings agency Standard & Poor’s said on Friday it would cut Britain’s AA credit rating if the country leaves the European Union without a deal, and warned that Brexit indecision was causing government paralysis.

“The UK authorities’ search for consensus on Brexit continues and is crowding out nearly all other policy considerations,” S&P said as it maintained its negative outlook on Britain’s rating. S&P said it did not expect a no-deal Brexit, and forecast growth would average 1.3% a year from 2020 to 2022.

(Reporting by David Milliken; Editing by Leslie Adler)

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