Economics
U.K. Adds a Credit Rating Cut by Moody’s to Its List of Woes
- Country already facing uncertainty over coronavirus, Brexit
- Moody’s lowered Britain’s credit score by one notch to Aa3
Photographer: Simon Dawson/Bloomberg
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The U.K., beset by growing coronavirus concerns and struggling to bridge the gap with the European Union over a post-Brexit trade deal, has had its credit rating cut by Moody’s Investors Service.
The credit assessor cited softer economic growth, an erosion of fiscal strength and a weakening in institutions and governance as it lowered the nation’s grade by one notch to Aa3, its fourth highest ranking.