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Credit rating agency Moody’s, in its latest Brexit update, said that prospect of the UK leaving the EU without any agreement has risen materially.

Key points:

   “¢   No-deal Brexit would damage the UK’s economic and fiscal strength.
   “¢   That would be a credit negative for a range of debt issuers.
   “¢   It would be a foregone conclusion that UK’s credit profile would irreparably weaken in the event of a no-deal Brexit.
   “¢   If a no-deal Brexit happens, immediate impact likely to be sharp fall in the pound, temporarily higher inflation.
   “¢   But still believes that UK and EU will eventually reach a deal to preserve many of the current trading arrangement, particularly around trading in goods.

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