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Mainland ties drag down Hong Kong credit score

Moody's cuts territory's issuer ratings to "Aa2" after hitting China

Moody's has downgraded Hong Kong's issuer ratings in conjunction with a similar move for mainland China. (Photo by Kenji Kawase)

HONG KONG - A day after China's sovereign debt rating downgrade, Hong Kong, by virtue of its links with the mainland, also saw its credit rating fall, despite robust fiscal strength.

Credit agency Moody's on Thursday cut the special administrative region's both local and foreign currency issuer ratings to "Aa2" from "Aa1," and changed its outlook to "stable" from "negative."

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