DBRS confirms United Kingdom

DBRS said it confirmed the long-term foreign and local currency ratings of the United Kingdom at AAA and the short-term foreign and local currency ratings at R-1 (high).

All ratings have stable trends.

DBRS said the ratings are underpinned by the country’s large, diversified and open economy, its resilient labor market as well as its flexible fiscal and monetary policy framework, coupled with its credible commitment to implementing a far-ranging fiscal consolidation program.

In addition, the U.K. benefits from deep, efficient domestic capital markets, a long average debt maturity and the Sterling’s status as a secondary reserve currency. A strong institutional framework also supports the ratings, the agency noted.

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