S&P cuts EU credit rating after Brexit

"After the decision by the UK electorate to leave the EU as a consequence of the June 23 consultative referendum, we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor," the agency said in a statement.

July 01, 2016 / 07:47 IST

Ratings agency Standard and Poor's cut the credit rating for the European Union by one notch saying that the bloc had grown more uncertain after Brexit.

"After the decision by the UK electorate to leave the EU as a consequence of the June 23 consultative referendum, we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor," the agency said in a statement.

first published: Jul 1, 2016 07:04 am

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