S&P Global Ratings and Fitch Ratings have warned the UK credit rating remains at risk of a further downgrade.
Fitch acknowledge that the Eu extension granted to the UK (until 31 October) dies reduce the risk of a no deal exit, but does not eliminate it.
S&P cite amongst reasons for their negative outlook
- risk of sustained economic weakness
- worsening government finances
if the UK loses its access to EU markets. Add that the are wary of investors losing confidence in the UK and risk that GBP status as a reserve currency.
