Goldman Sachs Asset Management sees UK downgrade, recession

LONDON (Reuters) - Britain is likely to see a sovereign downgrade after the country voted last week to leave the European Union, the head of Goldman Sachs Asset Management's European division said on Monday. "A potential downgrade is not really a market-moving event but it does seem likely," Andrew Wilson, CEO of GSAM International for EMEA, told a client call. "We shouldn't be too surprised if we end up with a downgrade in the UK." GSAM executives also said investors should factor in a recession in Britain. Ratings agency Moody's on Friday assigned a negative outlook to its Aa1 rating for British government debt. S&P said its AAA rating for Britain was no longer tenable, the Financial Times reported on Friday. (Reporting by Carolyn Cohn; Editing by Rachel Armstrong)