Financial news
Written by: Huang Jie
2020-01-21 15:55
Last updated: 2020-01-21 15:55Ratings agency Moody's downgraded Hong Kong's long-term credit rating yesterday. As Hong Kong's corporate ratings cannot be higher than the Hong Kong government's credit rating, the ratings of HSBC, Hang Seng Bank (0011), MTR (0066), and the Mortgage Corporation were also revised accordingly low.
Moody's announced that it has lowered the long-term foreign currency deposit ratings of HSBC and Hang Seng Bank from "Aa2" to "Aa3", and changed its outlook from "negative" to "stable".
In addition, Moody's also lowered the MTR issuer and priority unsecured rating from "Aa2" to "Aa3", and changed its outlook from "negative" to "stable". The long-term priority of unsecured mortgage companies and the issuer's rating have also been reduced from "Aa2" to "Aa3", and the outlook has changed to "stable".
Moody's yesterday downgraded Hong Kong's long-term credit rating from "Aa2" to "Aa3" with a rating outlook of "stable".
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