Fitch downgrades Hong Kong after months of protests

Hong Kong’s rating outlook is negative, Fitch Ratings said on Friday.

Protesters react after police fired tear near the government headquarters of Hong Kong on 31 August 2019. Thousands of pro-democracy protesters defied a police ban on rallying in Hong Kong on 31 August, a day after several leading activists and lawmakers were arrested in a sweeping crackdown. Picture: AFP.

BENGALURU - Global credit rating agency Fitch Ratings downgraded Hong Kong’s long-term foreign-currency issuer default rating to “AA” from “AA+” after months of unrest and protests in the region.

Hong Kong’s rating outlook is negative, Fitch Ratings said on Friday.

Increasingly violent protests have roiled the Asian financial hub as thousands chafe at a perceived erosion of freedoms and autonomy under Chinese rule.