A guest takes a photo of the Hong Kong skyline and protesters gathered near the waterfront after the annual flag raising ceremony to mark the 22nd anniversary of the city's handover from Britain to China on July 1. Photo: AFP
Moody’s downgrades outlook for Hong Kong amid ongoing protest turmoil but city’s rating remains unchanged
- Move follows Fitch’s decision earlier this month to lower city’s rating and outlook, and could mean higher borrowing costs for government
- Financial Secretary Paul Chan disputes decision, saying ratings agency’s rationale is unfounded
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Hong Kong protests
A guest takes a photo of the Hong Kong skyline and protesters gathered near the waterfront after the annual flag raising ceremony to mark the 22nd anniversary of the city's handover from Britain to China on July 1. Photo: AFP