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

OVERVIEW As the U.K. heads toward its March 2019 exit from the EU, it retains its key credit strengths: its high average income levels, diversified economy, strong and independent institutions, and the reserve currency status of sterling. However, uncertainty persists regarding the U.K.'s future relationship with its most important trading partner, the EU, and whether a transition period will come into force when the U.K. leaves the EU on March 29, 2019. We are affirming our long-term sovereign credit ratings on the U.K. at 'AA'. The outlook remains negative. RATING ACTION On Oct. 26, 2018, 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

...OVERVIEW + As the U.K. heads toward its March 2019 exit from the EU, it retains its key credit strengths: its high average income levels, diversified economy, strong and independent institutions, and the reserve currency status of sterling. + However, uncertainty persists regarding the U.K.'s future relationship with its most important trading partner, the EU, and whether a transition period will come into force when the U.K. leaves the EU on March 29, 2019. + We are affirming our long-term sovereign credit ratings on the U.K. at '##'. + The outlook remains negative. RATING ACTION On Oct. 26, 2018, 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 (BoE) and the '##' ratings on the debt programs of Network Rail Infrastructure Finance PLC, The Channel Tunnel...

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