Fitch Ratings Maintains Macao SAR’s Long-Term Credit Ratings at “AA”

Fitch Ratings Maintains Macao SAR’s Long-Term Credit Ratings at “AA”

Fitch Ratings announces today (4 March) that it maintains Macao SAR’s credit ratings (long-term foreign and local currency issuer default ratings) at “AA” with a “stable” outlook.

The international rating agency reaffirms Macao SAR’s “AA” rating (the third highest), which is mainly based on its exceptionally strong fiscal and external positions, as well as the SAR Government’s adherence to prudent fiscal management even during periods of economic adjustment. Meanwhile, Fitch expects Macao’s economic prospects to be bolstered by the continued expansion of the tourism sector with increased non-gaming investment, alongside the favourable relaxation of travel policies for Mainland visitors and the enhancement of tourism infrastructure.

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.