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

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. 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 negative. At the

...+ 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....

Research Update