Bulletin: United Kingdom 'AA/A-1+' Ratings And Negative Outlook Not Immediately Affected By Agreement With EU

LONDON (S&P Global Ratings) Nov. 15, 2018--The United Kingdom and the EU have reached an agreement in principle on the draft withdrawal treaty and accompanying political declaration. The draft agreement sets out the terms of the U.K.'s withdrawal from the EU, while the accompanying political declaration broadly outlines the intended future relationship between the two sides. In our view, the agreement represents material progress in negotiations though important uncertainties remain. In our view, the passage of the withdrawal agreement in its current form through the U.K. parliament is uncertain and could culminate in both sides having to return to the negotiating table, putting further pressures on meeting the March deadline. In our base case, we continue to anticipate an orderly

...LONDON (S&P Global Ratings) Nov. 15, 2018--The United Kingdom and the EU have reached an agreement in principle on the draft withdrawal treaty and accompanying political declaration. The draft agreement sets out the terms of the U.K.'s withdrawal from the EU, while the accompanying political declaration broadly outlines the intended future relationship between the two sides. In our view, the agreement represents material progress in negotiations though important uncertainties remain. In our view, the passage of the withdrawal agreement in its current form through the U.K. parliament is uncertain and could culminate in both sides having to return to the negotiating table, putting further pressures on meeting the March deadline. In our base case, we continue to anticipate an orderly withdrawal of the U.K. from the EU and the implementation of a transition period until at least December 2020. Our current negative outlook reflects our view of the risk of sustained economic weakness and a deterioration...

Bulletin