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    Standard & Poor's downgrades credit rating of the EU

    Rating downgraded from AA+ to AA

    Baku. 1 July. REPORT.AZ/ Standard & Poor's rating agency lowered by one line of long-term credit rating of the European Union after withdrawal of he UK. 

    Report informs, rating downgraded from AA+ to AA, the agency reassessed its opinion of cohesion within the EU, which it considers to be a neutral rather than positive rating factor.

    Earlier this week S&P became the last of the three major ratings agencies to strip the UK of its last AAA rating as it warned that the economic, fiscal and constitutional risks the country faced had increased following the EU referendum result.

    Fitch Ratings has lowered Britain’s rating agency. Moody's has left the kingdom on the Aa1 high rating, but changed the outlook on it to negative.

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