S&P affirms Hong Kong AA+ rating

Wednesday, September 30, 2020

Credit ratings agency S&P Global Ratings, has affirmed Hong Kong's issuer long-term and short-term credit ratings as "AA+" and "A-1+", respectively, with the outlook, "stable." 

S&P estimates that a fiscal slippage of the Hong Kong government this year would not continue in the next two years. The fiscal deficit would remain with a third round of Anti-epidemic Fund, but there would be enough fiscal buffer to support short-term increases in expenditures, said S&P. The agency also forecasts Hong Kong would record "steeper contraction" in its economy this year.