Fitch Ratings Inc. announced yesterday that it has affirmed Macau’s long-term foreign-currency issue default rating (IDR) at “AA” with a stable outlook.
“AA” is the agency’s second-highest rating, denoting “high quality”. The top rating, “AAA”, denotes “exceptionally high quality”.
The New York-based credit rating agency, one of the “Big Three” alongside Moody’s and Standard & Poor’s, said in a statement that Macau’s ratings “are underpinned by the territory’s exceptionally strong public and external finances, combined with a demonstrated commitment to fiscal prudence during periods of both gaming windfalls and negative revenue shocks”.
