"The UK's decision to leave the European Union is unlikely to have a significant impact on corporate defaults, at least in the near future," the release stated.
However, Moody’s also noted that the global speculative-grade default rate has been rising as a result of low commodity prices.
"Low prices of oil and gas, as well as other commodities, will help push the default rate for US oil and gas companies to 8.6 percent, and 10.2 percent for metals and mining issuers over the coming year," Moody’s claimed.
On June 23, the United Kingdom held a referendum to determine whether the country should leave the European Union. According to the final results, 51.9 percent of voters, or 17.4 million people, decided to support Brexit, while about 16.1 million opposed it.
