According to a press release published by Fitch Ratings today, the international rating agency affirms Macao SAR’s credit ratings (long-term foreign and local currency issuer default ratings) at “AA” with a “stable” outlook.
According to Fitch’s rating definitions, ratings in the “AA” category indicate a very strong fiscal position for payment of financial commitments and the capacity is not significantly vulnerable to foreseeable events. Therefore, the expectations of default risk are very low.
The rating agency points out that the high ratings are underpinned by Macao SAR’s robust external position. Fitch estimates that the SAR’s net foreign assets as a share of gross domestic product have risen to the fifth-highest among the economies rated. Meanwhile, the strong public finances and the SAR Government’s adherence to fiscal prudence are supportive to Macao SAR’s high creditworthiness.
Fitch’s press release can be found via this link:
https://www.fitchratings.com/site/pr/10056280