September 22, 2017 / 8:56 PM / a year ago

Moody's downgrades UK's rating to Aa2 from Aa1

Sept 22 (Reuters) - Ratings agency Moody’s downgraded the UK’s long-term issuer rating to Aa2 from Aa1, citing weakened outlook for its public finances.

Moody’s revised up its outlook on the country to stable from negative.

Fiscal pressures will be exacerbated by the erosion of the UK's medium-term economic strength, likely resulting from the manner of its departure from the European Union, Moody's said.( (Reporting by Shashwat Awasthi in Bengaluru; Editing by Maju Samuel)

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