Moody’s downgrades Hong Kong rating outlook to negative

HONG KONG: Ratings agency Moody’s downgraded the outlook on Hong Kong’s credit rating to negative from stable on Wednesday, following a similar change for China the day before.

Moody’s cuts China’s credit outlook to negative

“The change in Hong Kong’s rating outlook reflects Moody’s assessment of tight political, institutional, economic and financial linkages between Hong Kong and the mainland,” the agency said in a statement.