Last updated: Saturday April 25, 2020 KSA 14:32 – GMT 11:32
Posted on: Saturday April 25, 2020 KSA 09:34 – GMT 06:34
Source: Paris – France Press
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The credit rating agency “Standard & Poor’s” has kept Britain’s mark unchanged as well as its estimates of stable prospects, noting that the British authorities have taken a series of measures to address the economic consequences of the Covid-19 epidemic.
The agency kept Britain’s long-term debt rating at “AA”, the third best rating on the “Standard & Poor’s” scale.
“We expect the British economy in 2020 to post a contraction and for fiscals to shrink, before strengthening again as the economy recovers,” the credit rating agency said in a statement.
But she cautioned that this rating could be shaken if the economic recovery turns out to be much weaker than expected, making the fiscal recovery harder.
This could happen if exports of goods and services cannot enter European markets and the pound is under pressure.
On the other hand, this mark can be improved if the main sectors of services, in the framework of negotiations with the European Union, maintain access to European markets without customs duties or other barriers other than fees.
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