Fitch assigns Hong Kong sukuk AA+

Fitch Ratings said it assigned Hong Kong's proposed dollar-denominated sovereign global sukuk trust certificates an expected AA+(EXP) rating.

The sukuk issuance rating is driven solely by Hong Kong's issuer default rating of AA+, which Fitch affirmed on Sept. 5, along with the stable outlook.

The sukuk issuance rating is based on Fitch's view that a default of these senior unsecured obligations would reflect a default of Hong Kong in accordance with the agency's rating definition.

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