Ratings agency cites weakening economy, Brexit woes and coronavirus shocks
The ratings agency Moody’s lowered the United Kingdom’s sovereign debt rating by one notch to Aa3 from Aa2 on Friday, citing weakening economic and fiscal strength stemming from Brexit woes and coronavirus-induced shocks.
Boris Johnson’s government has tightened restrictions as the country grapples with a second wave of Covid-19 infections, and the stricter measures have heaped more pressure on an economy already weighed down by Brexit uncertainties.
