Ratings: Foreign and Local Currency U~: AA/Negative/A-1+ For further details see ratings list. Uncertainty persists on the U.K.'s future relationship with its most important trading partner, the EU. The U.K.'s current account deficit remains the second largest in the world, in absolute terms. We are affirming our long-term sovereign credit ratings on the U.K. at 'AA'. The negative outlook reflects the risk of sustained economic weakness should merchandise and services exports from the U.K. lose access to key European markets, or should external financing diminish due to a loss of confidence in the economy's prospects. On April 27, 2018, S&P Global Ratings affirmed its unsolicited long- and short-term foreign and local currency sovereign credit ratings on the United Kingdom at
