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S&P says Brexit would prompt swift downgrade of Britain: Bild

Supporters of the "Britain Stronger IN Europe" group campaign in the lead up to the EU referendum, at Soho in London, Britain June 22, 2016. REUTERS/Neil Hall

FRANKFURT (Reuters) - A downgrade of Britain’s AAA credit rating by Standard and Poor’s (S&P) could come quickly after a vote in favor of leaving the European Union, S&P chief sovereign ratings officer Moritz Kraemer told German daily Bild.

“If Great Britain decides for a Brexit in the EU referendum on Thursday, then the AAA credit rating would come due and would be downgraded within a short period of time,” Bild quoted Kraemer as saying in a summary of an article to be published on Thursday.

Kraemer repeated that the political situation in Britain would become less predictable and rational, partly because there was no real post-Brexit plan, Bild reported.

Kraemer said in April that a leave vote would likely lead to a downgrade of Britain’s rating, given the country’s deep political, financial and trading ties in Europe.

Reporting by Maria Sheahan; Editing by Leslie Adler

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