The Conservative Party's newfound majority should clear the passage of the Withdrawal Agreement Bill through parliament, diminishing the risk of a no-deal Brexit. While uncertainty remains about the U.K.'s future relationship with the European Union (EU), we expect that the U.K. will ultimately seek an extension to the transition period beyond December 2020. We are therefore revising the outlook on our sovereign credit ratings on the U.K. to stable from negative and affirming our sovereign credit ratings at 'AA/A-1+'. On Dec. 17, 2019, S&P Global Ratings revised the outlook on its sovereign credit ratings on the U.K. to stable from negative. We affirmed our 'AA/A-1+' unsolicited long- and short-term foreign and local currency sovereign credit ratings. At the same time,
