Moody’s alters Macao view to negative

Moody's Investors Service said it changed the outlook on the government of Macao Special Administrative Region China's ratings to negative from stable. Concurrently, the agency affirmed the local- and foreign-currency issuer ratings at Aa3.

“The announcement follows Moody's outlook change on the government of China's A1 rating to negative from stable. The change in Macao's rating outlook to negative reflects Moody's assessment of tight political, institutional, economic and financial linkages between Macao and the mainland which keep the rating gap between the SAR and China no wider than one notch. The negative outlook on China's rating therefore implies a negative outlook on Macao's rating,” the agency said in a press release.

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