Macau does not agree with Moodys lowered its credit rating outlook to negative

US Credit Rating Agency Moody's Wednesday (December 6) reduced the Macau rating outlook from "stability" to "negative".The Macau does not agree with this, and said that Macau and mainland China are closely linked to provide strong support for the long -term development of Macau.

According to Reuters, Moody's Wednesday has lowered the Hong Kong and Macau rating outlook from "stability" to "negative", while maintaining the long -term distribution of credit rating of Macau "AA3".Moody's announcement stated that the change of rating reflects Moody's assessment of close connection between the two places with mainland China in politics, institutional, economy and finance.

According to the "Voice of the Greater Bay Area" Weibo, the Macau Financial Administration stated that according to Moody's rating definition, the "AA3" rating belongs to the fourth high level, indicating that the credit risk of breach of contract is very goodLow.However, the Macau Special Administrative Region Government does not agree with Moody's outlook for Macao's outlook to negative.

The Macau Financial Administration pointed out that the SAR government still adheres to the prudent financial management during the economic adjustment period, and the sufficient financial and foreign exchange reserves have allowed Macau to respond and resist peripheral risks.The SAR government does not have any debt burden. Public finances, external income and expenditure conditions and financial conditions are very stable, and banks' asset quality and capital level remain good.

The Macau Financial Administration also said that Macau and mainland China have close contacts to provide strong support for the long -term development of Macau.The current global economy faces multiple complex challenges of multiple uncertainty. The substantial growth of the mainland economy in the first three quarters of this year still reached 5.2%, which will bring positive impacts on Macau's external demand.

Moody's Tuesday (December 5) lowered China's rating outlook to be negative, because of the expectations of slowing economic growth and the risk of the real estate market.Moody's evaluation of the rating outlook of 18 companies in Hong Kong, China and eight major banks on Wednesday was reduced from stability to negative.