Ratings agency Standard and Poor's cut the credit rating for the European Union by one notch on Thursday saying that the bloc had grown more uncertain after Brexit. According to the statement, S&P cut the EU's rating to AA, still the third highest possible level, from AA+ with a stable outlook, which signifies that the agency believes no further cut would be necessary in the medium-term. On Monday, both S&P and Fitch downgraded Britain's rating citing last week's referendum that decided an exit from the EU.
SAN JUAN, Puerto Rico (AP) — Porfirio Guerrero has grown increasingly frustrated as a decade-long recession has sapped business from his tailor shop in the Puerto Rican capital. He now feels the only way for the island to recover is to become a full-fledged part of the United States, a sentiment that is gaining force in the territory.