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11/04/2014
Scotland Yes Vote Could Mean UK Credit Review
A yes vote in the Scottish independence referendum could see the UK's return to triple A credit status, according to a report of the ratings agency Fitch.
Fitch suggested there would be a “one off” increase in the UK's debt if Scotland do not remain with financial institutions relocating in London, the bank debt exposure could raise.
Although that the report assumed a No vote in the referendum based on the current polls the agency highlighted that it would review the UK's credit rating because it would be at more moderate risk in the public debt, external finances, currency arrangements and financial sector.
At the same time the Scottish government said that with a major Yes vote it regards the 24 March as a realistic independence date.
Fitch also said that it assume that Scotland would repay gradually its loan to the UK but also said: "However, it would be illiquid and leave the UK exposed to Scottish credit risk, at least in the early years of independence."
(CVS/MH)
Fitch suggested there would be a “one off” increase in the UK's debt if Scotland do not remain with financial institutions relocating in London, the bank debt exposure could raise.
Although that the report assumed a No vote in the referendum based on the current polls the agency highlighted that it would review the UK's credit rating because it would be at more moderate risk in the public debt, external finances, currency arrangements and financial sector.
At the same time the Scottish government said that with a major Yes vote it regards the 24 March as a realistic independence date.
Fitch also said that it assume that Scotland would repay gradually its loan to the UK but also said: "However, it would be illiquid and leave the UK exposed to Scottish credit risk, at least in the early years of independence."
(CVS/MH)
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