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Sept. 16, 2019, 7:03 a.m. EDT

Moody's lowers outlook on Hong Kong to negative

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By Steve Goldstein

Moody's Investors Service cut its rating on the Government of Hong Kong to negative from stable though it kept its Aa2 issuer rating. "The change in outlook to negative reflects the rising risk that the ongoing protests reveal an erosion in the strength of Hong Kong's institutions, with lower government and policy effectiveness than Moody's had previously assessed, and undermine Hong Kong's credit fundamentals by damaging its attractiveness as a trade and financial hub," the rating agency said.

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