Of all the terrors of Brexit:
The mass layoffs following the S&P rating downgrade of Britain to BB status were especially traumatic.
Doesn’t really work.
For the rating to actually change it needs two of the big three to change it. So S&P alone means nothing, it requires Fitch and or Moody’s to also.
Secondly, ratings don’t drive events, they react to them. If there were mass layoffs and a crumbling economy then maybe the agency would downgrade.
Finally, in order not to sound too Ritchie-like, why would a down grade cause lay offs? The government finding it more expensive to borrow means the private sector fires people why?