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2 months ago
Moody's says will assess implications of UK election; Brexit and deficit key
June 9, 2017 / 8:48 AM / 2 months ago

Moody's says will assess implications of UK election; Brexit and deficit key

FILE PHOTO: The logo of credit rating agency Moody's Investor Services is seen outside the office in Paris October 24, 2011.Philippe Wojazer/File Photo

LONDON (Reuters) - Rating agency Moody's will assess the implication of Britain's election, which failed to provide a clear winner on Friday, casting the country's approach to Brexit and the future path of its economic policy into doubt.

"Moody’s is monitoring the UK’s process of forming a new government and will assess the credit implications in due course," said Kathrin Muehlbronner, a Moody’s Senior Vice President and lead UK sovereign analyst.

"As previously stated, the future path of the UK sovereign rating will be largely driven by two factors: first, the outcome of the UK’s negotiations on leaving the European Union and the implications this has for the country’s growth outlook. Second, fiscal developments, given the country’s fiscal deficit and rising public debt."

Reporting by Costas Pitas; writing by William James; Editing by Georgina Prodhan

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