S&P confirms British rating, warns on Brexit

Standard & Poor's maintained Friday its rating for Britain, having removed its coveted 'AAA' status after the June 23 EU exit referendum, and warned again over the impact of Brexit.

S&P said in a statement that Britain's assessment remained at 'AA' with a negative outlook, meaning that the agency could lower the rating in the medium term.

"In our opinion, Brexit presents a significant risk to the UK's track record of strong economic performance, and to its large financial sector in particular," S&P said.

"The Leave result has also led to a less predictable and stable policy framework for the UK."

It added: "The outlook remains negative, reflecting the continued institutional and economic uncertainty surrounding Brexit negotiations, and what arrangements will emerge post-departure."

S&P also flagged uncertainty over the future of Britain's membership of the single market.

"The recent decision to exit the European Union -- the destination for 44 percent of the UK's goods and services exports -- poses a potential risk to the UK's national income, as well as its fiscal and external balances," it said.