‘Fitch is wrong’: Carrie Lam rebukes agency for downgrade of Hong Kong credit rating ...News

Fitch has downgraded Hong Kong’s sovereign rating on Friday one notch from AA+ to AA and the city’s outlook from stable to negative amid persistent protests in the city. The move will have implications for the borrowing costs of companies and the government. The credit-rating agency says ongoing events have inflicted long-lasting damage to international perceptions of the quality and effectiveness of Hong Kong’s governance system and rule of law. It also called into question the stability of its business environment. The decision was rebuked by Chief Executive Carrie Lam Cheng Yuet-ngor, who said “what happened in the past few months did not undermine ‘one country, t

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‘Fitch is wrong’: Carrie Lam rebukes agency for downgrade of Hong Kong credit rating ...News

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