S&P, Fitch downgrade UK credit rating after Brexit

Rival agency Fitch also lowered its rating from AA+ to AA, this follows Moody's downgrade on Friday

British fallout from EU alarms Asia, deepens party conflicts
Press Trust of India London
Last Updated : Jun 28 2016 | 11:11 AM IST
The UK has lost its top AAA credit rating from ratings agency S&P following the country's Brexit vote last week.

S&P said the the referendum result to leave the European Union could lead to "a deterioration of the UK's economic performance, including its large financial services sector".

Rival agency Fitch also lowered its rating from AA+ to AA, forecasting an "abrupt slowdown" in growth in the short-term.

This follows Moody's downgrade on Friday, the day the referendum results were announced.
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First Published: Jun 28 2016 | 2:32 AM IST

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