Moody's cut Britain's long-term credit rating Friday, citing economic uncertainty sparked by complex Brexit negotiations and the likelihood of weaker public finances.

The ratings agency cut the grade one notch to Aa2 from Aa1 with a stable outlook, which reflects expectations Britain's debt will "continue to rise" and worries that whatever trade agreement is reached with the European Union, even a "best-case scenario would not award the same access to the EU... that the UK currently enjoys."