The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.
Business environment in United Kingdom
In 2016 the UK was Canada’s third largest merchandise export market with Canadian exports reaching C 17.1 billion, as well as being the largest destination for Canadian direct investment in Europe, with a total stock of approximately 92.9 billion. This is in large part due to historical and cultural linkages. Nonetheless, the UK's vote to leave the EU has had negative repercussions and the economy is widely expected to slow down with high uncertainty impacting consumption and investment decisions. This all comes at a critical moment as the UK negotiates the terms of its exit from the EU. From a sector perspective, EDC sees strong opportunities in the Cleantech & Renewables, Mining & Metals, Oil & Gas, infrastructure and Transportation, ICT and Medical Technology & Devices. It should also be noted that the UK has a highly accommodating business environment, ranking seventh out of 138 (World Economic Forum Global Competitiveness Report) making it an attractive location for investment.
EDC serves Canadian companies in The United Kingdom through our local representation in London.