June 25, 2016 8:56 AM

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Ratings agency Moody's has said Britain's creditworthiness was now at greater risk after voting to leave the European Union, as the country would face substantial challenges to successfully negotiate its exit from the bloc. Moody's assigned a negative outlook to its 'Aa1' rating for British government debt after the referendum showed that a clear majority of Britons wanted to leave the EU. However Moody maintained stable outlook rating for EU.Britain's finance ministry and central bank had warned voters the country would face a major economic hit if it left the EU after more than 40 years as a member. Supporters of Britain leaving the EU have largely dismissed warnings about the economic consequences as scare mongering, and are confident Britain will negotiate trade deals and immigration controls superior to those it already has.

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