{"id":777027068,"date":"2025-05-29T09:56:41","date_gmt":"2025-05-29T12:56:41","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777027068"},"modified":"2026-04-21T22:30:00","modified_gmt":"2026-04-22T01:30:00","slug":"moodys-keeps-macau-long-term-credit-rating-at-aa3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/moodys-keeps-macau-long-term-credit-rating-at-aa3","title":{"rendered":"Moody\u2019s keeps Macau long-term credit rating at Aa3"},"content":{"rendered":"\n

The ratings agency maintained the outlook of the Macau government as negative.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Moody<\/strong>\u2019s has maintained Macau\u2019s long-term issuer rating at Aa3<\/strong>. The rating agency said that the decision was based on the city’s strong fiscal and external positions and the absence of outstanding government debt, providing significant capacity to withstand shocks.<\/p>\n\n\n\n

The agency maintained the outlook of the Macau government as negative. “There are risks that Macau\u2019s currently very large fiscal and external buffers may erode over time, should Macau\u2019s growth prospects weaken, although from a very high base,” it said, noting that weaker economic activity in the gaming sector would lower government revenue and services exports, undermining fiscal and current account surpluses in the absence of mitigants.<\/p>\n\n\n\n

The\u00a0Macau Statistics and Census Service\u00a0reported that gross domestic product (GDP) for the first quarter of the year was down 1.3 per cent\u00a0year-on-year at MOP99.78bn (US$12.45bn). That\u2019s 85.2 per cent of first-quarter 2019, before the Covid-19 pandemic.<\/p>\n\n\n\n

Visitor arrivals rose by 11.1 per cent in the first quarter of the year, but exports of services decreased by 3.8 per cent in real terms due to a decline in other tourism services resulting from changes in visitor consumption patterns. In domestic demand, gross fixed capital formation, government final consumption expenditure and private consumption expenditure rose by 7.8 per cent, 1 per cent and 0.6 per cent respectively.<\/p>\n\n\n\n

The Macau government collected MOP29.84bn (US$3.71bn)<\/strong>\u00a0in taxes from casino operations in the first four months of the year, flat in year-on-year terms. The 2025 budget plan, which the Legislative Assembly approved in December, estimates that Macau\u2019s casino GGR\u00a0will reach MOP240bn (US$29.7bn)<\/a>\u00a0this year. Gaming taxes are expected to reach MOP93.12bn (US$11.6bn).\u00a0<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau GGR per visitor will be down by 6.6% in 2025, analysts say<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The ratings agency maintained the outlook of the Macau government as negative.<\/p>\n","protected":false},"author":176,"featured_media":777027981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Moody's has affirmed Macau's long-term issuer rating at Aa3, citing robust fiscal and external positions, but maintained a negative outlook due to potential erosion of buffers if gaming sector growth weakens. The report highlights Q1 GDP decline and flat casino tax revenues, contrasting with the 2025 budget's optimistic GGR and gaming tax projections, underscoring the jurisdiction's reliance on gaming vertical performance.","focusai_entities":"Moody\u2019s, Macau government, Macau Statistics and Census Service, Legislative Assembly","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"GGR Projection Feasibility","query":"Given the flat year-on-year casino tax revenue and Q1 GDP decline, what specific economic indicators or policy initiatives underpin the Macau government's MOP240bn GGR projection for 2025, and how do these align with Moody's cautious outlook?"},{"label":"Fiscal Diversification Strategy","query":"What concrete fiscal diversification strategies is the Macau government implementing to mitigate the risk of buffer erosion identified by Moody's, particularly concerning the gaming sector's inherent volatility and shifts in visitor consumption patterns?"}],"footnotes":""},"categories":[16338,163,24628,158],"tags":[257],"class_list":["post-777027068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-highlight-of-the-week","category-slider-home","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777027068"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027068\/revisions"}],"predecessor-version":[{"id":777027081,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777027068\/revisions\/777027081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777027981"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777027068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777027068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777027068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}