Categories: Business

Rating Agency: Moody’s cuts UK credit rating

Credit rating Agency
Moody’s cuts UK credit rating

Views of skyscrapers in the centre of London. Photo: Dominic Lipinski/PA Wire/dpa

The Brexit and the Corona-crisis weaknesses in the British economy significantly. This also has consequences for the credit rating of the country.

The US rating Agency Moody’s has lowered the credit rating of the UK because of the Brexits and the Corona-crisis level. Moody’s assessed the long-term debt of the United Kingdom with the rating of “Aa3” (previously “Aa2”), informed the credit rating Agency.

As the main reason the Agency cited the declining economic strength, since you have checked the credit note from August 2017. The financial strength of the state had declined, and the state institutions, as well as the leadership had been weakened in the past few years, explained Moody’s, the Gradation.

The UK transition phase in about ten weeks threatening after the end of Brexit-a tough break with the European Union. That would customs duties and other trade barriers lead. The prospects that a trade Pact with the EU is concluded, are bad. Many companies expect high economic losses.

The United Kingdom is also affected particularly hard by the Corona pandemic. The British Prime Minister Boris Johnson is accused of being a bad crisis Manager. Through his schlenker course he is making the Situation worse, they say.

The UK is the Gradation with the fourth-highest credit grade from Moody’s but in the area of secure systems. The Outlook for the Rating the Agency considered to be stable.

dpa

#Topics

Matthew Velter

With 5 years of experience as an editor, Matthew has been a crucial part of eTrendy Stock since its inception. He looks after the editing of news content published on eTrendy Stock. Apart from investing his time in editing, he also provides well-researched news articles for the U.S. niche. Mathew studied at University of central Florida.