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After China's ratings cut, Moody's downgrades Hong Kong

Moody's changed Hong Kong's outlook to stable from negative

Reuters  |  Hong Kong 

Moody's Investors Service downgraded Hong Kong's local and foreign currency issuer ratings just hours after it cut China's credit ratings for the first time in nearly 30 years. The US ratings agency downgraded Hong Kong's rating to Aa2 from Aa1 and said credit trends in China will continue to have a significant impact on Hong Kong's credit profile due to close economic, financial and political ties with the mainland. Moody's changed Hong Kong's outlook to stable from negative, denoting that the risks to the city's rating are balanced. The ...

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First Published: Thu, May 25 2017. 16:14 IST