Moody's: Upgrades unlikely for Hong Kong banks

Moody's Investors Service said in a new report that the outlook for the credit ratings of Hong Kong banks is stable.

For now, an across the board upgrade is unlikely as previous upgrades over the past few years had already adequately factored in improved fundamentals, Moody's said.

Further upgrades will hinge on a better operating environment - such as reduced competition and a strong recovery of underlying loan demand - and sustained risk-adjusted profitability from growing operations outside Hong Kong, the agency said.

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