(Adds Fitch rating on BoE, details)
Dec 9 Fitch Ratings affirmed the United
Kingdom's long-term foreign and local currency issuer default
ratings at 'AA', with a negative outlook, citing a wide range of
possible outcomes over Brexit negotiations.
"...a key uncertainty is whether it (Brexit agreement) will
include a transition arrangement that would provide some
stability regarding trading arrangements ahead of the
negotiations of a potential future free trade agreement between
the UK and the EU," Fitch said in a statement on Friday.
The ratings agency said it expects the UK to invoke Article
50 of the Lisbon Treaty by end-March 2017, which will see the
country leave the EU two years later.
The referendum vote to leave the European Union has brought
in a period of heightened political, economic and institutional
uncertainty, Fitch said.
The ratings agency also affirmed the Bank of England's
long-term issuer default rating at 'AA' on Friday, aligning its
rating with that of the UK government's.
(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by