Fitch Affirms Hong Kong’s Sovereign Ratings

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6:30 GMT

Aug 2009

Fitch Affirms Hong Kong’s Sovereign Ratings

(RTTNews) - Friday, Fitch Ratings affirmed Hong Kong’s long-term foreign and local currency Issuer Default Ratings at ‘AA’ and ‘AA+’ respectively, giving stable outlooks to both. It also confirmed the short-term foreign currency IDR at ‘F1+’ and the Country Ceiling at ‘AAA’.

The firm said the sovereign credit worthiness was underpinned by the country’s strong external financial positions, prudent public finance management and a sound banking system.

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