Dagong Global issues rating for Macau

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On Wednesday Dagong Global Credit Rating Co. Ltd., a Chinese credit rating firm, released its second sovereign or regional credit rating report covering nine countries and regions, including Macau. In terms of domestic currency-denominated debt, Macau was rated AA-plus. Compared to the U.S.-based Moody’s, Standard & Poor’s, and Fitch, Dagong Global gave Macau a higher rating. Neighbouring Hong Kong received the firm’s top AAA rating, while Taiwan received an AA-minus. Dagong Global provides three-level (A,B,C) assessments, with each level containing three sub-levels, for example AAA, AA, A. Dagong Global released its first sovereign credit rating report on July, covering 50 countries.