Moody’s has kept its long-term debt risk rating on the Macau economy unchanged at “Aa3” as well as a “stable” outlook, according to a statement announcing the findings of the Special Administrative Region’s annual credit analysis report.
The “Aa3” rating is the fourth highest and, according to the credit risk ratings defined by the agency, is part of the high-quality investment group whose risk of credit default is very low.
The Macau Monetary Authority, which issued the Moody’s statement, said that the agency had made the announced decision due to the fact that Macau had no debt and had been making a profit from the financial application of its reserves.
During the period of economic adjustment, the Macau SAR was able from the beginning of 2014 and mid-2016 to maintain financial capacity and solid income and expenditure status, which highlighted its high capacity to withstand economic impact.
Moody’s is also forecasting that Macau’s economy will maintain its growth in the medium term, for the next two to three years, given the growth of revenues from the gaming sector as well as those related to non-gambling tourism. (macauhub)