Moody’s and S&P Global keep ‘Aa3’ and ‘AA+’ credit ratings for Hong Kong

Moody’s and S&P Global have maintained their “Aa3” and “AA+” credit ratings for Hong Kong, with the former upgrading the outlook from “negative” to “stable”.

Their grades on Tuesday came after Fitch maintained its “AA-” credit rating and “stable” outlook for Hong Kong last week.

Both Moody’s and S&P cited the city’s substantial fiscal buffers and foreign exchange reserves, strong external balance sheet and high per capita income levels.

Moody also pointed to the resilience of the city’s economy and financial system at a time of trade tensions, while S&P noted Hong Kong’s flexible and effective government policies and the linked exchange rate, which promoted monetary and financial stability.

In response to the latest ratings, a government spokesman said: “The recent affirmations of Hong Kong’s credit ratings by Fitch, S&P and Moody’s, all with ‘stable’ outlooks, demonstrate Hong Kong’s resilience in maintaining stability amid increasing global economic and financial uncertainties.

“Recent data has further underscored the robustness of Hong Kong’s financial system. Bank deposits have continued to grow, capital markets remain active and the IPO market is thriving, all of which signal global investors’ confidence in Hong Kong.”