Mubasher: Financial Services has downgraded Hong Kong’s rating on Wednesday, after recently cutting its rating on China, according to a recent report.
The rating agency downgraded local and foreign currency ratings on Wednesday from AA2 to AA1, the third highest rating according to Moody’s.
Downgrading China’s rating will affect Hong Kong, the agency noted, due to the economic and financial ties between the two countries.
Source:
Mubasher