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Brexit+Vote+Leads+S%26P+To+Cut+European+Union+Credit+Rating
Friday, 01 July 2016 - 13:19
Brexit Vote Leads S&P To Cut European Union Credit Rating
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Ratings agency Standard and Poor's has cut its credit grade for the European Union after the UK's Brexit vote.

S&P said the cut from AA+ to AA came after reassessment "of cohesion within the EU, which we now consider to be a neutral rather than positive".

The UK's Brexit vote had triggered "greater uncertainty" over long term economic and financial planning.

On Monday, S&P cut the UK's top AAA credit rating, saying Brexit could hit the economy and financial sector.

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