Macau outlook raised to stable by Fitch

Fitch Ratings has given a vote of confidence to the recovery in Macau, revising its outlook on the special administrative region to stable from negative.

“The affirmation of Macao’s rating and revision of the Outlook to Stable reflects Fitch’s view that the expected recovery in gaming tourism will support the territory’s credit profile after last year’s steep drop in activity and accompanying recession,” it said.

The firm also confirmed Macau’s long-term foreign currency issuer default rating at AA.