UK loses triple-A credit rating after Brexit vote
by Jill Treanor and Katie Allen from Economics | The Guardian on (#1JH4Z)
Standard & Poor's issues downgrade and pound hits 31-year low despite chancellor's attempts to soothe markets
The UK has been stripped of its last AAA rating as credit agency Standard & Poor's warned of the economic, fiscal and constitutional risks the country now faces as a result of the EU referendum result.
The two-notch downgrade came with a warning that S&P could slash its rating again. It described the result of the vote as "a seminal event" that would "lead to a less predictable stable and effective policy framework in the UK".
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