Scotland could see its credit status downgraded to 'junk' if it votes to leave the UK, according to Moody's, as a result of the pressures falling oil prices have placed on its public finances.
Last week, Scottish First Minister Nicola Sturgeon called for a second independence referendum to take place before Britain leaves the European Union, saying the country must be offered a choice between a 'hard' Brexit and becoming an independent country. However, Prime Minister Theresa May rejected the possibility of a second referendum before the term of Britain's divorce from the EU are finalised, saying "now is not the time" for Scotland to leave. Commenting on the potential for Scotland to become independent, Colin Ellis, chief credit officer for EMEA at Moody's, has warned the c...
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