Mubasher: Moody's Moody's Investors Service said on Monday that the inconclusive election result in the United Kingdom is likely to delay negotiations about the country's exit from the European Union which could be negative for Britain's credit rating.

According to the ratings agency’s recent report, Britain might slow its push to lower the budget deficit which would be a lower priority for the government, another negative for the rating.

However, the government might now consider Brexit options which represent less of a hard break from the EU which could be credit positive, the report noted.

"While it is unclear at this stage which changes to its strategy the government will contemplate, it may be that 'softer' versions of Brexit will now be considered. This could potentially include a request to remain inside the EU single market or the customs union," said Moody's.