Moody's lowered UK rating from "stable" to "negative"
Agency assured that economic efficiency of the UK Government's policy may be somewhat reduced
Moody's International rating agency revised its outlook on the long-term and debt ratings of the UK from "stable" to "negative", according to the agency website.
As noted, both ratings affirmed at "Aa1".
The agency believes that Brexit will herald a long period of uncertainty for the UK with negative implications for the medium-term prospects for growth. In the longer term, if the UK will not provide a favorable alternative mechanism for trade with the EU and other countries, the prospects for UK growth will be substantially weaker than currently expected.
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