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Fitch downgrades UK over no deal Brexit prospect - issues RWN notice

Credit agency Fitch Ratings has issued an emergency notice on the UK's status, placing the UK's 'AA' Long Term Foreign and Local Currency Issuer Default Ratings (IDRs) on Rating Watch Negative). The RWN reflects the heightened uncertainty over the outcome of the Brexit process, Fitch says, and an increased risk of a disruptive no deal Brexit. It believes that no deal would lead to substantial disruption to UK economic and trade prospects, at least in the near term.

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