Moody’s Downgrades Hong Kong’s Rating to Aa2 From Aa1; Raises Outlook to Stable from Negative (Moody’s)

Moody’s Investors Service has downgraded Hong Kong’s local currency and foreign currency issuer ratings to Aa2 from Aa1 and changed the outlook to stable from negative. Hong Kong’s financial and institutional strengths support the stable outlook on Hong Kong’s rating. Large fiscal and external buffers and a strong track record of effective fiscal and economic policy provide ample flexibility to cushion the economy and financial system against negative shocks. READ MORE

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