The rating of Hong Kong is lowered to “AA”, and the demonstration is prolonged = Fitch

[6th Reuters]-Rating agency Fitch Ratings announced on May 6 that it has lowered its Hong Kong foreign currency long-term issuer default rating (IDR) from "AA Plus" to "AA". The reason is that political unrest has continued due to protests.

The outlook is “negative”.

Fitch expects Hong Kong to maintain a framework of “one country and two systems” that guarantees a high degree of autonomy, and the authorities have recently made concessions to some requests from demonstrators, but civil dissatisfaction remains. He pointed out that the possibility is high.

On the 4th, the Hong Kong government chief executive, Carry Lam, announced the official withdrawal of the revised "Fug Crimes Ordinance" that would allow suspects to be handed over to mainland China. However, some democrats are not satisfied with just revoking the amendments, and a demonstration will be held this weekend.