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Fitch Affirms HK at AA-, Foresees Econ Growth at 3.5% This Yr
Fitch Ratings affirmed Hong Kong's Long-Term Foreign-Currency Issuer Default Rating (IDR) at AA- with a Stable Outlook. The rating was supported by Hong Kong's strong exter...
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Fitch Affirms HK at AA-, Foresees Econ Growth at 3.5% This Yr
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Fitch Ratings affirmed Hong Kong's Long-Term Foreign-Currency Issuer Default Rating (IDR) at AA- with a Stable Outlook. The rating was supported by Hong Kong's strong external finances, high per capita income, and strong fiscal balance sheet relative to AA category peers.

Fitch forecast that Hong Kong's economic growth will remain strong at 3.5% this year, flat YoY. It expected robust global demand for AI-related electronic products, solid funding channels, and a rising number of visitors to continue supporting exports of goods and services.

Nevertheless, Fitch noted that Hong Kong's growth outlook remains vulnerable to prolonged conflicts in the Middle East and a renewed escalation of trade tensions, which could weaken re-export trade and logistics activities. Spillover effects from a slowdown in China's economic growth may also weigh on performance.

The rating agency expected Hong Kong's medium-term economic growth to range between 2.5% and 3%.

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