LONDON (S&P Global Ratings) Sept. 30, 2022--S&P Global Ratings said today that the revision of the U.K. sovereign rating outlook to negative, from stable, does not immediately affect our ratings and outlooks on U.K. banks. Nevertheless, and independent of any future rating action on the sovereign, we could revisit our U.K. banking industry country risk assessment (BICRA) and bank ratings if we saw a material increase in the economic or industry risks facing the sector. The sovereign outlook revision reflects what we view as rising fiscal risks for the U.K. economy stemming from the significant budgetary loosening (energy support scheme and Growth Plan 2022) the U.K. government announced on Sept. 23 (see "United Kingdom Outlook Revised To Negative On Rising
