According to a press release published by Fitch Ratings today, the international rating agency revises Macao SAR’s rating outlook to “stable” from “negative” and affirms its credit ratings (long-term foreign and local currency issuer default ratings) at “AA”.

Despite a notable drop in economic activity last year, the rating agency points out that the expected recovery will support Macao SAR’s credit profile and “stable” outlook. It also concurs that Macao SAR’s strong public and external positions as well as the Government’s prudent fiscal management have provided significant buffers to mitigate the unprecedented shock from the pandemic and uphold macroeconomic stability.

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.

Fitch’s press release can be found via this link:

https://www.fitchratings.com/research/sovereigns/fitch-revises-outlook-on-macao-to-stable-affirms-at-aa-15-04-2021