FOREX TradingCharts.com

Financial News: UK Rating Outlook Improves After General Election

UK Rating Outlook Improves After General Election

12/18/2019 - 05:12:00 (RTTNews)

(RTTNews) - Rating agencies see less risk from the UK leaving the European Union without a deal after Boris Johnson won the general election last week, raising their views on UK ratings.

The Conservative Party's majority will help them to pass the Withdrawal Bill in the parliament and move ahead with Brexit.

S&P Global Ratings revised the outlook on the sovereign ratings of the UK to 'stable' from 'negative'. The rating remained at 'AA'.

"The new government's stronger mandate to progress through the next stage of Brexit negotiations reduces the potential for a disruptive no-deal departure," S&P said.

Elsewhere, Fitch Ratings removed the UK from 'Rating Watch Negative' and affirmed the ratings at 'AA'.

Nonetheless, Fitch said the 'negative' outlook reflects the assessment that uncertainty regarding the future UK-EU relationship will persist for some time.

Fitch said it is highly likely that the UK will leave the EU on January 31, 2020. A transition period, whereby almost all EU law would continue to apply in the UK, would last at least until end-2020.

As U.K. and the EU have only 11 months to hammer out the details of their future relationship, S&P expects the UK to seek an extension from the EU. In the absence of such an extension, U.K. companies' access to EU customers would revert to WTO terms on January 1, 2021, resulting in significant tariffs on key sectors.

Despite challenges, on balance the risks to the sovereign ratings over the next year have reduced. Nonetheless, the ratings are constrained by uncertainty regarding the future relationship with the EU.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Denmark Retail Sales Fall In December (08 min(s), 12 sec(s) ago)
(RTTNews) - Denmark's retail sales fell in December after rising in the preceding month, figur ...Full Story»

Turkey Manufacturing Capacity Utilization Falls In January (14 min(s), 12 sec(s) ago)
(RTTNews) - Turkey's manufacturing capacity utilization decreased in January, figures from the ...Full Story»

Finland Manufacturing Confidence Weakens In January (01 hr(s), 44 min(s), 12 sec(s) ago)
(RTTNews) - Finland's manufacturing sentiment deteriorated in January, survey data from the Co ...Full Story»

Finland Consumer Confidence Falls In January (01 hr(s), 45 min(s), 12 sec(s) ago)
(RTTNews) - Finland's consumer confidence decreased in January after improving in the previous ...Full Story»

European Economics Preview: German Ifo Business Confidence Data Due (55 min(s), 48 sec(s) ago)
(RTTNews) - Business confidence survey data from Germany is due on Monday, headlining a light day ...Full Story»

Economic Calendar Is A Blank Slate On Monday (38 min(s), 48 sec(s) ago)
(RTTNews) - There's no economic data on the slate for Monday, with most countries in the Asia- ...Full Story»

Belgium Business Confidence Improves Further (22 min(s), 48 sec(s) ago)
(RTTNews) - Belgium's business confidence improved further in January, extending the upward tr ...Full Story»

Professional Forecasters Raise 2020 Eurozone GDP Forecast: ECB Survey (13 min(s), 48 sec(s) ago)
(RTTNews) - Professional forecasters raised the euro area economic growth forecast for this year, ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Denmark Retail Sales Fall In December

01/27/2020 - 03:15 AM (RTTNews)
(RTTNews) - Denmark's retail sales fell in December after rising in the preceding month, figur ...Full Story>>

Turkey Manufacturing Capacity Utilization Falls In January

01/27/2020 - 03:09 AM (RTTNews)
(RTTNews) - Turkey's manufacturing capacity utilization decreased in January, figures from the ...Full Story>>

Finland Manufacturing Confidence Weakens In January

01/27/2020 - 01:39 AM (RTTNews)
(RTTNews) - Finland's manufacturing sentiment deteriorated in January, survey data from the Co ...Full Story>>

Finland Consumer Confidence Falls In January

01/27/2020 - 01:38 AM (RTTNews)
(RTTNews) - Finland's consumer confidence decreased in January after improving in the previous ...Full Story>>

European Economics Preview: German Ifo Business Confidence Data Due

01/26/2020 - 23:19 PM (RTTNews)
(RTTNews) - Business confidence survey data from Germany is due on Monday, headlining a light day ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.