Fitch Ratings (Fitch) announces today (11 February) that it maintains the credit ratings (long-term foreign and local currency issuer default ratings) of the Macao SAR at “AA” with a “stable” outlook.

The international rating agency reaffirms the “AA” rating (the third highest) of the Macao SAR, primarily based on its exceptionally strong fiscal and external positions, as well as the SAR Government’s adherence to prudent fiscal management even during periods of economic adjustment.  Meanwhile, Fitch envisages Macao’s economy to expand at a moderate pace this year, supported by favourable travel policies, increased non-gaming investment and enhanced tourism infrastructure.   

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.