Ratings agency Standard & Poor’s said on Friday it would cut Britain’s AA credit rating if the country leaves the European Union without a deal, and warned that Brexit indecision was causing government paralysis.
“The UK authorities’ search for consensus on Brexit continues and is crowding out nearly all other policy considerations,” S&P said as it maintained its negative outlook on Britain’s rating. S&P said it did not expect a no-deal Brexit, and forecast growth would average 1.3% a year from 2020 to 2022, Reuters reported.