S&P and Fitch warn UK rating still at risk from a no-deal Brexit

Britain’s credit rating remains at risk of a further downgrade despite the extended deadline for its departure from the European Union, ratings agencies S&P Global Ratings and Fitch Ratings said on Friday. S&P said its negative outlook reflected the risk of sustained economic weakness and a hit to government finances if Britain lost access to EU markets, investors took fright or sterling’s status as a reserve currency came under pressure. Fitch and S&P both have a AA rating on British government debt.