Mubasher: Britain's vote to leave the European Union (EU) will be “credit negative” for the country’s sovereign ratings and other entities, according to Moody’s Investors Service.
The Leave vote will lead to “a prolonged period of uncertainty” that will impact the UK’s economic and financial performance.
“Heightened uncertainty during negotiations over new arrangements between the UK and the EU will likely dent investment inflows and consumer and business confidence in the UK, weighing on its growth prospects,” the rating agency noted.
