S&P says Britain’s “AAA” credit rating untenable after Brexit vote: Financial Times

By: | Published: June 24, 2016 11:51 AM

Ratings agency Standard and Poor's said Britain's top-notch "AAA" credit rating is no longer tenable after voters opted to leave the European Union, the Financial Times reported on Friday.

AAA ratingS&P has previously said its AAA rating for Britain reflected its assumption that the referendum would deliver a vote to remain in the EU. (Reuters)

Ratings agency Standard and Poor’s said Britain’s top-notch “AAA” credit rating is no longer tenable after voters opted to leave the European Union, the Financial Times reported on Friday.

“We think that a AAA-rating is untenable under the circumstances,” Moritz Kraemer, chief ratings officer for S&P, told the FT.

Rival ratings agencies Fitch and Moodys have already stripped Britain of their AAA ratings, long before the referendum campaign began.

Also Read: S&P 500 futures fall as Brexit vote count shows tight race

S&P has previously said its AAA rating for Britain reflected its assumption that the referendum would deliver a vote to remain in the EU.

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