Moody’s has ratcheted lower the UK’s credit outlook to negative from its previous rating of stable
The rating agency cited Brexit “paralysis”, making policymaking less predictable
- “The increasing inertia and, at times, paralysis that has characterised the Brexit-era policymaking process has illustrated how the capability and predictability that has traditionally distinguished the UK’s institutional framework has diminished”
On the bright side, the agency said the UK’s decline in “institutional strength” is “likely to survive Brexit”
Moody’s UK rating of Aa2 remains unchanged (same level as S&P and Fitch on the country). Same rating as France, but below Germany’s AAA.