Moody's: UK creditworthiness under downward pressure post-Brexit

The US rating agency, Moody’s Investors Service, published another note this Tuesday, highlighting the post-Brexit impact on the UK’s creditworthiness.

Key Findings from the report:

"The UK's creditworthiness is under downward pressure following the decision to leave the European Union, says Moody's Investors Service in a report just published. Uncertainty surrounding the UK's withdrawal from the EU will likely affect economic growth and weaken government finances. However, the UK also retains important strengths, including its large economy and solid institutional strength.”

"The economy will slow significantly in the near term, and medium-term growth prospects could be materially weaker if the UK failed to reach a new trade arrangement with the EU that allows it reasonably good access to the European Single Market. Given the complexity and sheer amount of economic policy decisions in the coming years, the UK's institutions will be tested."