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Amidst Brexit Uncertainty, Default Risk Rises
The U.K. is due to leave the European Union in less than a year, but hasn’t agreed on just how do it. And that could be creating more risk for companies based in the U.K. This week showed how chaotic the process has been, with Prime Minister Theresa May trying to appease die-hard Brexiters on Monday, only to experience further attacks from that wing of her party, and narrowly surviving a challenge in parliament. The uncertainty around Brexit might already be taking a toll. Since the vote to leave the E.U. in June 2016, confidence in the credit of large U.K. corporations has been deteriorating, according to Credit ... (full story)