Morphine Prince 109,645 Posted June 28, 2016 Share Posted June 28, 2016 The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote. S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector". Rival agency Fitch lowered its rating from AA+ to AA, forecasting an "abrupt slowdown" in growth in the short-term. The moves come after Chancellor George Osborne said the UK will face the future "from a position of strength". Speaking earlier, in an attempt to restore calm to the markets, the chancellor said the economy would need to "adjust" but was strong enough to cope. S&P had been the only major agency to maintain a AAA rating for the UK. On Friday, Moody's cut the UK's credit rating outlook to negative. A rating downgrade can affect how much it costs governments to borrow money in the international financial markets. In theory, a high credit rating means a lower interest rate (and vice versa). S&P said that the leave result would "weaken the predictability, stability, and effectiveness of policymaking in the UK". Source: http://www.bbc.com/news/business-36644934 Link to post Share on other sites More sharing options...
SychosSoChic 9,995 Posted June 28, 2016 Share Posted June 28, 2016 THE COMPLETE AND UTTER DECAY Life ain't Hollywood for any one of us. Link to post Share on other sites More sharing options...
Goosey 3,017 Posted June 28, 2016 Share Posted June 28, 2016 It will be bumped back up to AAA in no time. AA+ is pretty good! "I am the world's greatest person that does not want to let people into the country."—US President Donald J. Trump Link to post Share on other sites More sharing options...
Hecturr 1,937 Posted June 28, 2016 Share Posted June 28, 2016 1 hour ago, SychosSoChic said: THE COMPLETE AND UTTER DECAY is this ****ing crackers Link to post Share on other sites More sharing options...
SychosSoChic 9,995 Posted June 28, 2016 Share Posted June 28, 2016 3 hours ago, Hecturr said: is this ****ing crackers Apparently it's BREAD! Life ain't Hollywood for any one of us. Link to post Share on other sites More sharing options...
Hecturr 1,937 Posted June 28, 2016 Share Posted June 28, 2016 7 minutes ago, SychosSoChic said: Apparently it's BREAD! Link to post Share on other sites More sharing options...
LePetitGAGABLover 21,234 Posted June 28, 2016 Share Posted June 28, 2016 UK and ha ARTPOP era is coming Link to post Share on other sites More sharing options...
Economy 52,837 Posted June 29, 2016 Share Posted June 29, 2016 Yazzzzzzzzz. Now My Country (Canada) is the only top 10 economy in the world to still have Tripple AAA rating Link to post Share on other sites More sharing options...
Laceface 2,964 Posted June 29, 2016 Share Posted June 29, 2016 Predictable given the outcome, give it time. Link to post Share on other sites More sharing options...
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