The global rating company Standard & Poor´s announced on Monday evening that they have downgraded the UK sovereign rating from triple A to AA. According to the rating agency, this downgrading will reflect the economic, fiscal and constitutional risks of the last week´s Brexit vote. S&P’s ratings outlook is negative, which might indicate additional downgrades in the future.
A double-A rating places the UK with Belgium and France. Germany, the Netherlands and Austria are having triple A ratings.
The rating agency is also expecting that the UK GDP will grow only by average 1,1 % on a year, compared to 2,1 % the agency estimated in April.