Fitch Ratings

Fitch Ratings is one of the three major global credit rating agencies, alongside Moody's and S&P, that assess the creditworthiness of governments and companies. On 14 August 2026 it affirmed the United Kingdom's sovereign credit rating at AA-, three notches below the top AAA grade, with a stable outlook.

Fitch's affirmation cited the UK's diversified economy, credible macroeconomic framework, deep capital markets and sterling's role as a reserve currency. A stable outlook signals no rating change is expected in the near term, in contrast to a positive or negative outlook, which would flag a likely future move.

A sovereign rating affects the interest rate the government pays to borrow, since gilt investors price credit risk into the yield they demand. A downgrade would tend to raise that cost; an affirmed, stable rating removes that pressure for now.