MACAO, May 22 (Xinhua) -- Moody's Investors Service maintained Macao's long-term issuer ratings at "Aa3" with a "stable" rating outlook, the special administrative region (SAR)'s monetary watchdog said here on Wednesday.
Monetary Authority of Macao said the international credit rating agency makes the evaluation based on the SAR government's strong fiscal and external positions and further progress on economic diversification.
Moody's pointed out that the solid fiscal and external buffers will continue to offer Macao SAR significant capacity to withstand potential shocks.
Meanwhile, the rating agency expected Macao's economy to grow stably alongside the progress on the SAR government's economic diversification policies, while regional development initiatives will bolster current diversification plans, the monetary watchdog added.
"Aa3" is three notches lower than the highest rating. According to Moody's rating definitions, ratings in the "Aa3" category are high investment grade and are subject to very low credit risk.
