Moody’s maintains Macau credit rating at Aa3

Moody’s Investors Service announced yesterday that it has affirmed the Macao Special Administrative Region’s long-term issuer rating at “Aa3” while revising the outlook from “negative” to “stable.”

The rating agency said the decision reflects Macau’s strong fiscal and external positions, supported by the absence of outstanding government debt. These factors, Moody’s noted, give the city significant capacity to withstand economic and financial shocks.

Moody’s also pointed to Macau’s close economic ties with mainland China as a key consideration. It said the outlook revision aligns with its updated assessment of China’s sovereign outlook, which was also changed from “negative” to “stable” on April 27, citing the mainland’s demonstrated macroeconomic resilience and fiscal strength amid external pressures.

The “Aa3” rating, the fourth-highest on Moody’s scale, is classified as high-grade investment status and indicates very low credit risk.