Moody’s shifts Hong Kong view to negative

Moody’s Investors Service said it changed the outlook on the government of Hong Kong’s Aa2 issuer rating to negative from stable.

“The change in outlook to negative reflects the rising risk that the ongoing protests reveal an erosion in the strength of Hong Kong’s institutions, with lower government and policy effectiveness than Moody’s had previously assessed, and undermine Hong Kong’s credit fundamentals by damaging its attractiveness as a trade and financial hub,” the agency said in a press release.

Moody’s affirmed Hong Kong’s Aa2 long-term issuer and senior unsecured ratings.

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