London, August 12, 2016, ARC Ratings, S.A. (ARC) has changed the outlook on the ‘AAA’ United Kingdom (UK) local and foreign currency sovereign credit ratings to negative from developing. The rating change was made in light of the recent Brexit referendum at this pre-announced panel. The UK’s local and foreign currency ratings of ‘AAA’ have been affirmed, as well as its country ceilings of ‘AAA’ and its short-term ratings of ‘A-1+’. All ratings of the UK are unsolicited.