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S&P affirms UK's sovereign credit rating at 'AA/A-1+'

Reuters
Pedestrians cross London Bridge during the commute to work in the City of London

(Reuters) - Ratings agency S&P Global affirmed the United Kingdom's sovereign credit rating at "AA/A-1+" on Friday, saying high income levels and its large, diversified economy and financial sector support growth.

"The ratings could come under pressure if economic growth is significantly weaker than we anticipate, challenging fiscal consolidation", S&P said in its statement, citing the fallout from Russia's invasion of Ukraine as a possible risk.

The agency maintained its outlook on the country's sovereign debt at "stable".

(Reporting by Mehr Bedi in Bengaluru; Editing by Sriraj Kalluvila)