S&P: No other EU downgrades post-Brexit, will look at UK banks

Standard and Poor's said on Tuesday it had no plans to downgrade any other EU country in the wake of Britain's Brexit vote and that it will decide if any UK banks ratings should be cut in the coming weeks. "This does not lead to mechanical changes (in bank ratings)," S&P banking sector analyst Giles Edwards said on a webcast. S&P chopped the UK's credit rating by two notches to AA and kept it on a 'negative outlook' on Monday in the wake of last week's vote to leave the European Union.