December 17, 2019 / 9:26 PM / 2 months ago

S&P revises UK outlook to stable after strong election mandate

Dec 17 (Reuters) - Ratings agency Standard & Poor’s said on Tuesday it revised Britain’s outlook to stable from negative as it expects a reduced risk for a potential no-deal Brexit after the government’s strong election victory.

“The stable outlook reflects offsetting risks to the UK’s creditworthiness,” the agency said, also maintaining its sovereign credit ratings for the country at ‘AA/A-1+’.

"Despite the government's current stance, we expect that the UK will seek, and the EU will grant, an extension beyond December 2020 to negotiate the future relationship between the two," it added (Reporting by Akshay Balan in Bengaluru; Editing by Maju Samuel)

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