Standard and Poorࢀ™s maintains confidence in Hong Kong economic outlook

Standard and Poorࢀ™s maintains confidence in Hong Kong economic outlook September 30, HONG KONG – Hong Kong’s economic outlook is stable, says ratings agency Standard and Poor’s, reflecting its expectation that current fiscal deterioration is not structural, and that political developments between mainland China and Hong Kong–as well as between the U.S. and Hong Kong–will not materially jeopardise Hong Kong’s strong economic profile. “We are affirming our ‘AA+/A-1+’ issuer credit ratings on Hong Kong,” S&P says. The agency says it recently revised its forecast for a steeper contraction in Hong Kong’s economy this year, due to sustained uncertainty on both…