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

OVERVIEW In our opinion, Brexit presents a significant risk to the U.K.'s track record of strong economic performance, and to its large financial sector in particular. The leave result has also led to a less predictable and stable policy framework for the U.K. We are affirming our 'AA/A-1+' long- and short-term sovereign credit ratings on the United Kingdom. The outlook remains negative, reflecting the continued institutional and economic uncertainty surrounding Brexit negotiations, and what arrangements will emerge post-departure. RATING ACTION On Oct. 28, 2016, S&P Global Ratings affirmed its unsolicited long- and short-term foreign and local currency sovereign ratings on the United Kingdom at 'AA/A-1+'. The outlook on the long-term rating is negative. At the same time, we affirmed the

...OVERVIEW In our opinion, Brexit presents a significant risk to the U.K.'s track record of + strong economic performance, and to its large financial sector in particular. The leave result has also led to a less predictable and stable policy framework for the U.K. We are affirming our '##/A-1+' long- and short-term sovereign credit ratings on + the United Kingdom. The outlook remains negative, reflecting the continued institutional and economic + uncertainty surrounding Brexit negotiations, and what arrangements will emerge post-departure. RATING ACTION On Oct. 28, 2016, S&P Global Ratings affirmed its unsolicited long- and short-term foreign and local currency sovereign ratings on the United Kingdom at '##/A-1+'. The outlook on the long-term rating 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...

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