Standard & Poor’s Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to ‘AA’ from ‘AA+’ after the United Kingdom voted to leave the bloc.
“After the decision by the UK electorate to leave the EU…we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor,” the agency said. (bit.ly/295BXgp)
The UK voted to leave the European Union last week, plunging global markets into turmoil.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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