(Reuters) - Hong Kong's role in global finance is intact, with little evidence to suggest recent protests and social unrest in the city have adversely impacted that role, global credit rating agency Fitch Ratings said on Thursday. However, the rating agency added that the prolonged protests are undermining perceptions that Hong Kong is a stable international business hub and that a weaker view of its governance could impact its credit rating directly. The Chinese-ruled city has seen more than six months of anti-government demonstrations sparked by a controversial and now-withdrawn extradition bill. The often violent protests have morphed into calls for greater democratic freedoms and an end to alleged mainland Chinese meddling in the semi-autonomous former British colony. In September, Fitch had downgraded Hong Kong's long-term foreign currency issuer default rating to "AA" from "AA+" following months of protests.
Source: International New York Times December 12, 2019 05:03 UTC