Moody's lifts Hong Kong Mortgage view to positive

Moody's Investors Service said it revised the outlook to positive from stable for Hong Kong Mortgage Corp.'s (HKMC) Aa3 long term local and foreign currency debt ratings, including its senior unsecured (domestic), senior unsecured MTN (domestic), long-term issuer rating and long-term issuer rating (domestic).

The action follows Moody's outlook change to positive from stable for the Aa3 long-term local currency Hong Kong government bond rating.

Moody's said the company's change in outlook reflects the continued strong government support available to the corporation. The company is a wholly owned government entity that carries out critical functions in promoting home ownership, providing liquidity for the mortgage and property markets via banks and housing agencies and spearheading the development of the debt market in Hong Kong.

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