Fitch Affirms the Bank of England at AAA, Outlook Maintained at Negative
Fitch Ratings affirmed the Bank of England’s (BoE) long-term issuer default rating (IDR) and senior unsecured notes at AAA and the senior unsecured short-term rating at F1+. The credit ratings agency (CRA) also affirmed the senior unsecured notes issued under BoE’s debt issuance programme at AAA. The outlook on the long-term rating, which was originally revised down from stable in March 2012, has been maintained at negative.
Fitch said that the BoE’s ratings reflect its central role in the UK and international financial system. They remain underpinned by support from the AAA-rated UK sovereign. The near certainty of sovereign support for the BoE derives primarily from its national strategic importance, as well as its ownership by the UK Treasury.
On 28 September, Fitch affirmed the UK’s sovereign ratings at AAA and maintained the outlook at