The rating applies to the issuer default rating for both foreign and local currency debt and keeps Macau at the third-highest level on agency Fitch’s rating scale. The decision is mainly based on the SAR’s “very strong” public finances and external balance position, as well as the Macau SAR Government’s commitment to maintaining prudent fiscal management, even during periods of economic adjustment.
Agency Fitch also noted that, supported by favourable tourism policies, increased investment in non-gaming sectors, and the enhancement of tourism infrastructure, Macau’s economy is expected to record moderate growth this year.
According to agency Fitch’s rating definitions, an “AA” rating indicates a very strong capacity to meet financial commitments and suggests that this capacity is not easily affected by foreseeable events. The risk of default is therefore considered very low.
