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

In our opinion, Brexit continues to present a significant risk to the U.K.'s track record of strong economic performance, and to its large financial services sector in particular. The leave result has also led to a less predictable and less stable institutional and policy framework for the U.K., highlighted by the snap election called for June 2017. We are affirming our long-term sovereign credit ratings on the U.K. at 'AA'. The outlook remains negative, reflecting the continued institutional and economic uncertainty surrounding Brexit negotiations, and what arrangements will emerge post-departure. On April 28, 2017, 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 is negative. At

...In our opinion, Brexit continues to present a significant risk to the U.K.'s track + record of strong economic performance, and to its large financial services sector in particular. The leave result has also led to a less predictable and less stable institutional + and policy framework for the U.K., highlighted by the snap election called for June 2017. We are affirming our long-term sovereign credit ratings on the U.K. at '##'. + The outlook remains negative, reflecting the continued institutional and economic + uncertainty surrounding Brexit negotiations, and what arrangements will emerge post-departure....

Research Update