- Analytics
- News and Tools
- Market News
- Ratings agencies take UK off downgrade watch after Johnson's win
Ratings agencies take UK off downgrade watch after Johnson's win
Ratings agencies Standard & Poor's and Fitch scaled back their warnings that Britain might suffer a new credit downgrade, saying Prime Minister Boris Johnson's emphatic election victory last week reduced the risk of a no-deal Brexit next month.
S&P raised Britain's outlook to stable from negative while Fitch took the country off its rating watch negative list although it kept its broader outlook at negative.
Johnson now plans to pass legislation to prevent the country asking for an extension to a Brexit transition period which is due to expire on Dec. 31, 2020.
S&P said it expected a no-deal Brexit at the end of next year would be avoided by London asking for more time.
"Despite the government's current stance, we expect that the UK will seek, and the EU will grant, an extension beyond December 2020 to negotiate the future relationship between the two," the ratings agency said.
Fitch said the risk of a "cliff-edge" Brexit at the end of next year had not disappeared.
S&P's sovereign credit ratings for the country stand at AA/A-1+. Fitch affirmed its AA rating.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
