Moody’s have downgraded the UK’s credit rating to Aa2 following concerns over the post-Brexit economic situation. Moody’s said in a press statement that “the UK’s exit from the EU will erode the country’s medium-term economic strength and continue to pose challenges to policy-making given the complexity of Brexit negotiation”.
A spokesperson for the Prime Minister said that Moody’s had made an “outdated assessment”, but the financial institution replied:
“It certainly is not outdated. It reflects a medium term view, it’s very much a forward looking view”.