The financial hub has been rocked by pro-democracy protests and clashes since June. FMTNews Moody HongKong
HONG KONG: Moody’s Investors Service lowered Hong Kong’s rating as a long-term issuer of debt by one notch on Monday, just months after Fitch Ratings took a similar action amid political protests.
Hong Kong has been rocked by pro-democracy protests and clashes between demonstrators and the police which have broken out regularly since June. “Moody’s rating falls way out of line with Hong Kong’s sound credit fundamentals,” a government spokesman said in a statement early Tuesday. The move by Moody’s marked the first downgrade by the agency of the city’s rating since May 2017. Fitch Ratings downgraded it in September to AA from AA+ with a negative outlook.
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