Fitch Ratings has upgraded Macau’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to AA from AA-, pointing out that “the outlook is stable”.
Fitch Ratings Hong Kong announced the upgrade in a statement yesterday. The upgrade has lifted Macau to the agency’s second highest rating for Long-Term Foreign Currency IDRs.
According to the US agency’s Rating Definitions, “IDRs opine on an entity’s relative vulnerability to default on financial obligations.”
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