S&P’s Kraemer: Brexit outcome, not election to determine UK rating move

Dhwani Mehta FXStreet

The NY Times now reporting an interview carried by Reuters earlier today, citing Moritz Kraemer, S&P Global Ratings chief sovereign ratings officer, as he expressed his take on the UK ratings.

Key Quotes:

When asked if Thursday's election could result in a move of S&P's UK's rating - "No, not because of the election."

"The outcome is not particularly contested. I think all the polls still suggest the Conservative party will win a majority. She (UK Prime Minister Theresa May) has been pretty clear she wants a hard Brexit."

"So what this rating will hang on is the outcome of the negotiations and the future relations the UK will have with the European Union."

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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