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BRIEF-S&P says Hong Kong ratings affirmed at 'AAA/A-1+' and 'cnAAA/cnA-1+'; outlook negative
August 25, 2017 / 8:01 AM / 2 months ago

BRIEF-S&P says Hong Kong ratings affirmed at 'AAA/A-1+' and 'cnAAA/cnA-1+'; outlook negative

Aug 25 (Reuters) - S&P -

* HONG KONG RATINGS AFFIRMED AT ‘AAA/A-1+’ AND ‘CNAAA/CNA-1+'; OUTLOOK REMAINS NEGATIVE

* AFFIRMED ITS ‘AAA’ LONG-TERM AND ‘A-1+’ SHORT-TERM ISSUER CREDIT RATINGS ON HONG KONG

* AFFIRMED ITS GREATER CHINA REGIONAL SCALE RATING ON HONG KONG AT ‘CNAAA/CNA-1+’

* BELIEVE HONG KONG‘S ECONOMY IS LIKELY TO GROW FASTER THAN THE AVERAGE OF HIGH-INCOME ECONOMIES OVER THE NEXT THREE YEAR

* MIGHT LOWER RATING ON HONG KONG WITHOUT DOWNGRADE OF CHINA, IF HK‘S POLITICAL POLARIZATION WORSENS TO COMPROMISES POLICYMAKING, BUSINESS ENVIRONMENT

* ESTIMATE HONG KONG‘S 2017 GDP PER CAPITA TO BE ABOUT US$45,500

* HONG KONG‘S SIZABLE AND LIQUID FISCAL RESERVES ANCHOR ITS CREDITWORTHINESS

* SAYS IT EXPECTS HONG KONG TO MAINTAIN A PRUDENT FISCAL POLICY, GIVEN ITS LONG-TERM FISCAL PLANNING

* PROJECT HONG KONG‘S 2017 PUBLIC AND FINANCIAL SECTORS’ EXTERNAL ASSETS NET OF TOTAL EXTERNAL DEBT AT CLOSE TO 65% OF CURRENT ACCOUNT RECEIPTS

* RANKS HONG KONG'S BANKING SYSTEM RISK AS '2' IN ITS BANKING INDUSTRY COUNTRY RISK ASSESSMENT Source text : bit.ly/2iw3tcl

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