Standard & Poor's downgrades European Union's rating.
A week after Brexit, the Standard & Poor's rating agency downgraded the European Union's long-term credit rating on Thursday, the 30th, from "AA+" to "AA"; prior to the European Union, S&P cut the United Kingdom's rating by two levels, from the highest rating "AAA" to "AA"; Fitch Ratings, another rating agency, also downgraded the country from "AA+" to "AA", with a negative outlook.
247 - A week after the referendum in which a majority of Britons decided to leave the European Union, the Standard & Poor's rating agency downgraded the European Union's long-term credit rating on Thursday, June 30, from "AA+" to "AA".
"Following the UK electorate's decision to leave the European Union, we have revised our view on EU cohesion, which we now consider a neutral rather than a positive factor," the organization said in a statement.
Before the European Union, S&P cut the United Kingdom's rating by two levels, from the highest "AAA" rating to "AA". Fitch Ratings, another credit rating agency, also downgraded the country from "AA+" to "AA", with a negative outlook.