WASHINGTON: Ratings agency Moody’s confirmed Britain’s credit rating at “Aa1”, saying that Scotland’s rejection of independence has preserved the strengths of the country’s institutions and financial system.
“Moody’s decision to affirm the UK’s rating follows the outcome of the referendum on Scottish independence, which maintains the 307-year-old union, thereby preserving the country’s current institutional and fiscal framework,” the company said.
Moody’s said a ‘yes’ vote for independence on Thursday would not have significantly changed Britain’s credit profile.
According to the ratings firm, the promises made by the government to confer more powers to the four nations that make up the United Kingdom will not affect the outlook for one of the world’s most credit-worthy countries.
Moody’s said it was keeping Britain’s outlook stable, suggesting that it did not expect to change the rating in the coming months. AFP
