The government of Hong Kong Special Administrative Region (HKSAR) says it strongly disagrees with Moody’s decision to downgrade the city’s credit rating. Moody’s on Monday downgraded Hong Kong’s rating by one notch from Aa2 to Aa3. But the agency moved its outlook from negative to stable. Moody’s says the absence of tangible plans to address political, economic and social concerns of the public may reflect weaker institutional capacity than Moody’s had previously assessed. It says its stable outlook reflects Hong Kong’s superior fiscal strength and consistent macroeconomic stability.
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