BROWN: The UK has just been stripped of its stop credit rating after the seismic decision that has sent tremors around the world. Brexit, the UK's vote to leave the European Union rocking Britain's economy as three million Brits and counting signed an online petition calling for a do over vote. Meantime, U.S. markets are taking a beating for a second day on the heels of this Brexit decision. Let's go live to Alison Kosik now at the New York stock exchange. So how bad are things looking here? And what will this new credit rating drop mean for global markets, Alison?</s>ALISON KOSIK, CNN MONEY BUSINESS CORRESPONDENT: So we are not seeing the credit rating drop play out here in the U.S. markets, but I would bet you would see it play out in overseas markets tonight. Now this overall no way to put it but it doesn't spell good news for the UK because not only did Standard & Poor's, which is one of three ratings agencies, not only did it lower the credit rating two notches to AA for the UK, which by the way is a negative credit rating, it kept a negative outlook on the UK. So what that does signals, guess what? This isn't the only downgrade that is possible. Others are possible as well. So what these credit ratings agencies do essentially is analyze the ability for a borrower. And in this case the country, the United Kingdom, to repay its loans. And at this point the ratings agency sees the UK as a risky bet. Keep in mind the way credit ratings go, the</s>BROWN: All right, Alison Kosik, thank you so much for breaking it down for us. And up next, Richard Quest joins me live from London where leaders of the movement that pushed the UK out are now backing off their promises. Hear why coming up.
United Kingdom Now Has AA Credit Rating.