Fitch Ratings announces today that it maintains Macao SAR’s credit ratings (long-term foreign and local currency issuer default ratings) at “AA” with a “stable” outlook.

The international rating agency reaffirms Macao SAR’s “AA” rating (the third highest), which is mainly based on its strong fiscal and external positions, and the SAR Government’s adherence to prudent fiscal management during economic adjustments.  Meanwhile, Fitch expects the gradual economic recovery would support a stable operating environment and financial conditions for Macao’s banking sector.

According to Fitch’s rating definitions, ratings in the “AA” category indicate a very strong fiscal position for payment of financial commitments and the capacity is not significantly vulnerable to foreseeable events.  Therefore, the expectations of default risk are very low.