Content type

No Business Other Than Brexit

Country Risk / United Kingdom / Tue 02 Oct, 2018

Key View

  • Political focus in the latter stages of 2018 and early 2019 will be wholly focused on preparing for Brexit, with domestic and foreign policy objectives falling by the wayside.
  • Fiscal prudence is likely to be relaxed slightly, as concerns mount over crime rates, and a struggling nationalised health service (NHS).
  • Despite a weakened
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Brexit Outcomes Threaten UK Construction Growth

Infrastructure / United Kingdom / Mon 01 Oct, 2018

Key View

  • We are maintaining our 2018 real growth forecast for the UK construction industry at 1.6% y-o-y. Brexit related uncertainty remains the largest threat to our forecasts for the UK construction sector.
  • The UK is most likely to leave the EU but retain some form of single market and customs union access, which would be supportive of our
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Labour Risks Rising In North Sea

Oil & Gas / United Kingdom / Wed 25 Jul, 2018

Key View: Increasing incidence of labour strike action in the UK and Norwegian offshore infrastructure raises the risk to the timely completion of project timelines as well as the longer term investment attractiveness of the region.

  • Unresolved labour disputes raise the risk of disruption to project timelines.
  • Further striking and powerful
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New Brexit Proposals Risk Damaging Banking Sector

Operational Risk / United Kingdom / Fri 13 Jul, 2018

Key View: Although the UK banking sector has proven resilient to Brexit uncertainty, we warn that with the official exit date less than a year away and little progress on reaching a settlement deal with the EU, industry headwinds are intensifying. While it is difficult to gauge the likelihood and impact of a serious shock to the sector, we believe

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Carillion Highlights Key Construction Sector Risks

Real Estate / United Kingdom / Wed 17 Jan, 2018

The collapse of UK construction company Carillion highlights the importance of contract risk management and of maintaining margins for companies in the European engineering and construction (E&C) sector, Fitch Ratings says. The sector is largely sub-investment grade, but investment-grade ratings are possible where both the business and balance

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