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    Standard & Poor's downgrades highest credit rating of the UK

    S & P was quick to react on results of the referendum, where the British were in favor of withdrawal from the EU

    Baku. 28 June. REPORT.AZ/ Standard & Poor's international rating agency downgraded the credit rating of the UK of its triple A grade investment rating down to AA.

    Report informs referring to the Euronews, S & P was quick to react on results of the referendum, where the British were in favor of withdrawal from the EU.

    As the agency says in a statement, "the downgrade reflects our view that in case of the UK withdrawal from the European Union, it may have a negative impact on the economy as a whole, as well as growth of GDP and the country's budget balance".

    Notably, earlier GBP reduced against the US-dollar by almost 10% and fell to a 30-year low.

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