In Business Insider, David Carruthers discusses the declining credit quality of British companies is declining in quality, and austerity and Brexit are largely to blame.
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.
The analysis comes in the context of the Bank of England’s warnings that the riskiest sectors of the corporate debt market have grown very quickly, even though the quality of the debt has declined.
By Jim Edwards, February 21 2019, Business Insider.
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