Ratings On The United Kingdom Affirmed At 'AA/A-1+'; Outlook Remains Negative

Ratings: Foreign and Local Currency U^: AA/Negative/A-1+ For further details see ratings list. OVERVIEW Brexit continues to present a significant risk to the U.K.'s economic performance, and to its large financial services sector in particular. We are affirming our long-term sovereign credit ratings on the U.K. at 'AA'. The negative outlook reflects the continued institutional and economic uncertainty surrounding the Brexit negotiations and the U.K.'s future relationship with its largest market for goods and services, the EU, after the country's departure from the bloc in March 2019. RATING ACTION On Oct. 27, 2017, S&P Global Ratings affirmed its unsolicited long- and short-term foreign and local currency sovereign credit ratings on the United Kingdom at 'AA/A-1+'. The outlook is negative. At

...OveRview Brexit continues to present a significant risk to the U.K.'s economic + performance, and to its large financial services sector in particular. we are affirming our long-term sovereign credit ratings on the U.K. at '##'. + The negative outlook reflects the continued institutional and economic + uncertainty surrounding the Brexit negotiations and the U.K.'s future relationship with its largest market for goods and services, the eU, after the country's departure from the bloc in March 2019. RATiNg ACTiON On Oct. 27, 2017, S&P global Ratings affirmed its unsolicited long- and short-term foreign and local currency sovereign credit ratings on the United Kingdom at '##/A- 1+'. The outlook is negative. At the same time, we affirmed the '##/A-1+' long- and short-term issuer credit ratings on the Bank of england and the '##/A-1+' ratings on the debt programs of Network Rail infrastructure Finance PLC, The Channel Tunnel Rail Link Section 1 Finance PLC, and London Continental Railways PLC....

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