We now expect the United Kingdom's net general government debt as a percentage of GDP to continue to rise in 2015, before declining again. Future employment or growth shocks could pressure government finances further. We are therefore revising our outlook on the unsolicited long-term ratings on the U.K. to negative, from stable, reflecting our view of a one-in-three chance that we could lower the ratings if the U.K.'s economic and fiscal performances weaken beyond our current expectations. We are affirming our 'AAA/A-1+' long- and short-term unsolicited sovereign credit ratings on the U.K. We have also revised to negative from stable the outlook on our 'AAA' ratings on the Bank of England and the debt program of Network Rail Infrastructure Finance
