Fitch affirms UK's AA rating

By Ahmet Gurhan Kartal

LONDON (AA) – The Fitch credit ratings agency on Friday affirmed the AA long-term debt rating with negative outlook for the U.K.

The agency said that alongside positive indicators, “the referendum vote to leave the European Union has ushered in a period of heightened political, institutional, and economic uncertainty.

“Fitch recognises that there is a wide range of possible outcomes concerning the negotiations over Brexit and future institutional and trade relations between the UK and the EU,” it added.

Britons voted in a referendum to leave the European Union on June 23.

Prime Minister Theresa May has said her government would trigger Article 50 of the Lisbon Treaty, which will officially start exit negotiations with the remaining 27 members of the bloc, but a High Court ruling said the move could not be invoked without parliament’s approval.

The U.K.’s Supreme Court took up a government appeal against the High Court ruling.

A decision is expected in early January.