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The credit of British companies is declining in quality and austerity and Brexit are largely to blame

The credit of British companies is declining in quality and austerity and Brexit are largely to blame
Reuters



The creditworthiness of British companies is declining in quality, according to Credit Benchmark, a research firm which tracks corporate debt.




Companies in the EU and the US are holding up.




The UK government's fiscal austerity, Brexit, and a declining currency are largely to blame — factors that aren't present in Europe or America, according to Credit Benchmark's David Carruthers.



The credit of British companies is declining in quality and austerity and Brexit are largely to blame, according to David Carruthers, the head of research at Credit Benchmark, a firm which tracks corporate debt.
The weakness of the pound — which has declined 10% since the month of Britain's fateful referendum decision to leave the EU — hasn't helped either, he says.
By contrast, the credit of European and US companies has largely held up, his analysis shows.
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