January 30, 2019 / 2:29 PM / 23 days ago

Risk of disorderly Brexit 'remains high' - Moody's

FILE PHOTO: British and EU flags flutter outside the Houses of Parliament in London, Britain January 30, 2019. REUTERS/Toby Melville

LONDON (Reuters) - Britain remains at high risk of leaving the European Union in a disruptive manner that damages the economy, following a series of parliamentary votes on Tuesday on Prime Minister Theresa May’s Brexit plans, credit ratings agency Moody’s said.

“The immediate impact ... is to prolong the uncertainty about the future direction of Brexit,” Moody’s analyst Colin Ellis said in a note to clients.

“The risk of a disorderly no-deal Brexit in particular remains high, and such an outcome would have significant negative credit consequences for a range of issuers,” he added.

Last week, Moody’s said a no-deal Brexit would represent a profound failure of Britain’s political institutions.

Reporting by David Milliken; editing by Stephen Addison

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