UK and EU

UK could lose its AAA credit rating if it leaves the EU

Written by Joseph Nordqvist

Published: 20:25, October 29, 2015

The UK could end up losing its ‘AAA’ credit rating if it leaves the European Union.

Moritz Kraemer, Standard and Poor’s (S&P) chief sovereign rating officer, told Reuters that Britain’s coveted AAA rating could be reduced by two notches if the country’s relations with Brussels “deteriorated significantly” as a result of a Brexit.

“Should we conclude that departure from the EU is likely over the medium term, we could lower the rating by potentially more than one notch, depending on the circumstances, such as the expected future relations with the EU,” Kraemer said.

Scotland remaining in the UK after a Brexit is another factor. Leaving the EU could result in a new vote on Scottish independence, especially given the SNP Government’s opposition to a UK withdrawal from the European Union.

Kraemer said: “It is one thing to leave the EU, but if the country gets divvied up further, then that is another layer of complication and problems.”

Earlier this month a poll revealed that 39 percent of Britons support a UK exit, the highest level since 2012.

The number of Eurosceptics, those who believe that the UK would prosper outside the European political and economic bloc, has increased steadily over the last several months.

However, most business leaders are believed to be strongly in favour of staying in the EU, given that the bloc is our biggest trading partner and the largest single consumer market in the world.

An EU referendum is due to take place by 2017 at the latest.

Joseph Nordqvist Avatar

Other News

Plumbing or college: weighing pay, training and AI exposure

Sep 13, 2026

Why more advanced VR equipment does not always feel more real

Sep 13, 2026

VR pilot training shows promise before a student’s first real flight

Sep 13, 2026

Family businesses face a gap between succession plans and readiness

Sep 13, 2026

EU keeps battery recycling targets as industry prepares for tougher recovery rules

Sep 13, 2026

UK firms report patchy recovery while hiring plans stay flat

Sep 13, 2026

Positron wins new backing for an AI chip built around cheaper memory

Sep 13, 2026

EU employment rises, but 24 million people still want more work

Sep 13, 2026

Why the Internet of Things still matters for businesses

Sep 12, 2026

Deep discounts can weaken later purchase interest, study finds

Sep 12, 2026

Household saving study finds large differences in how people value the future

Sep 12, 2026

Cybersecurity budget research puts expected losses ahead of spending targets

Sep 12, 2026

UK trade deficit narrows to £9 billion over three months

Sep 12, 2026

Munters expands Virginia factory to make data center chillers locally

Sep 12, 2026

Digital literacy report calls for skills training beyond network coverage

Sep 12, 2026

Berkeley’s healthy checkout rule linked to lower soda sales, study finds

Sep 12, 2026

France cuts growth forecast to 0.5% and announces fresh budget measures

Sep 12, 2026

Kroger cuts sales outlook as online growth helps support earnings

Sep 12, 2026

Gasoline pushes US monthly inflation higher ahead of Fed meeting

Sep 12, 2026

How AI is changing the pharmaceutical industry

Sep 11, 2026