LONDON (dpa-AFX) - The 'Leave' result in the UK referendum on membership of the European Union is credit negative for most sectors in the UK, due to weaker medium-term growth and investment prospects and uncertainty about future trade arrangements, Fitch Ratings said Friday.
The agency said Brexit will be moderately credit negative for the UK sovereign. As previously stated Fitch will review the sovereign rating shortly.
In the medium to long term, any broader rating actions are likely to depend on factors such as the size and duration of the impact on GDP, the extent of sterling depreciation and their subsequent effect on inflation, asset prices, unemployment and interest rates, the agency said.
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