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BRIEF-Moody's affirms Macao's Aa3 issuer rating; Changes outlook to Stable from Negative
May 24, 2017 / 2:02 PM / 3 months ago

BRIEF-Moody's affirms Macao's Aa3 issuer rating; Changes outlook to Stable from Negative

May 24 (Reuters) - Moody's:

* Moody's affirms Macao's Aa3 issuer rating; Changes outlook to stable from negative

* Moody's says affirmed Macao's local and foreign currency issuer ratings at Aa3 and changed the outlook to stable from negative

* Moody's - Macao's financial buffers provide the government with significant means to mitigate the economic impact of potential future shocks

* Moody's - Macao's local currency bond and deposit ceilings are unchanged at Aa2

* Moody's says factors driving Macao's rating, outlook include expectations that preservation of fiscal, external buffers provides room to counter future negative shocks

* Moody's on Macao - Expect current account surplus to increase to 28% of GDP in 2018, as gaming, tourism recover, remaining well above that of rating peers

* Moody's says factors driving Macao's rating, outlook include expectations that ongoing progress on diversification bolsters prospects for more resilient GDP growth

* Moody's says factors driving Macao's rating, outlook include expectations that signs of policy effectiveness support institutional strength

* Moody's on Macao - With the economy recovering, we expect Macao to build additional buffers in coming years

* Moody's says Macao's outlook change "reflects our assessment that credit risks have become broadly balanced"

* Moody's on Macao - Rising incomes in China and Macao's proximity to Mainland will continue to support demand for Macao's gaming and tourism market Source text for Eikon:

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