U.K. Rating at Risk of Downgrade Amid No-Deal Brexit Concern
- Fitch puts U.K. on ’negative’ watch in surprise move
- Warning comes as government scrambles to end impasse
This article is for subscribers only.
The U.K. has been put on a formal downgrade warning by Fitch Ratings, which pointed to increased risks that the country could tumble out of the European Union without an agreement in place.
In a surprise move that came outside of its normal ratings calendar, Fitch placed the AA grade on rating watch negative, and said that a no deal outcome, or a new relationship with the EU that “undermines” the economy, may result in a downgrade.