POST Online Media Lite Edition



 

S&P maintains Hong Kong's rating with negative outlook

Staff Writer |
S&P Global Ratings maintained the sovereign ratings of Hong Kong with negative outlook.

Article continues below






The rating agency affirmed the sovereign ratings of Hong Kong at Hong Kong citing sizable fiscal reserves, strong external position and above-average economic growth.

The negative outlook on the long-term rating on Hong Kong mirrors that on the long-term rating on China, S&P said.

In the absence of a further strengthening of the independence of the Special Administrative Region's already resilient and effective institutions, S&P warned that it would lower the rating on Hong Kong by one notch if the rating on China is lowered.

In addition, S&P said it would lower the rating on Hong Kong without a downgrade of China, if Hong Kong's political polarization worsens to a point where it compromises policy making and the business environment.

S&P currently rates the Special Administrative Region three notches higher than its sovereign.


What to read next

Moody's keeps Finland's credit rating at triple A
Outlook for Austria’s government bond rating down to negative
Fitch affirms Indonesia's BBB- rating with stable outlook