UK loses its top credit rat­ing as mar­kets sour

The Daily Telegraph - - Front Page -

The UK has been stripped of its top credit rat­ing by Stan­dard & Poor’s, which warned fur­ther down­grades could fol­low in the com­ing months af­ter the de­ci­sion to leave the EU. The rat­ings agency down­graded the UK by two notches last night to AA, from AAA. It said un­cer­tainty fol­low­ing the Brexit vote would hurt growth, push up bor­row­ing and could trig­ger a con­sti­tu­tional cri­sis if it led to a sec­ond Scot­tish ref­er­en­dum. Fitch also down­graded the UK a notch to AA. Busi­ness: Page 1

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