The credit of British companies is declining in quality and austerity and Brexit are largely to blame, according to David Carruthers, the head of research at Credit Benchmark, a firm which tracks corporate debt.
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.
