Moody's cuts Hong Kong Mortgage

Moody's Investors Service said it downgraded to Aa2 Hong Kong Mortgage Corp. Ltd.'s Aaa long-term local- and foreign-currency senior unsecured bond ratings, Aa1 long-term foreign-currency issuer rating and Aaa long-term local-currency issuer rating. This concludes a review for possible downgrade.

The outlook is stable.

The downgrades reflect the governments' ability to provide support and financial stimulus to banks and other financial institutions during a prolonged global financial crisis, Fitch said.

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