Fitch affirms Airport Authority Hong Kong

Fitch Ratings said it affirmed Airport Authority Hong Kong's long-term foreign-currency issuer default rating at AA, long-term local-currency issuer default rating at AA+ and short-term local-currency rating at F1+.

The outlook remains stable.

The ratings reflect its ongoing support from and close relationship with the Hong Kong Special Administrative Region, the strategic location of the Hong Kong International Airport and its strong financial fundamentals, Fitch said. The foreign-currency issuer default rating is capped by the sovereign rating of Hong Kong, which also is AA.

The airport is of prime importance to the Hong Kong economy and there is significant operational interdependence between the company and the government, the agency said.

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