Moody's degrades HK to 'negative' as fears of Beijing meddling grow
Time：2016-03-16
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With violent street clashes between police and protesters last month and the fate booksellers who went missing and later turned up on the mainland facing criminal investigation has triggered fears of increasing Chinese interference in the city.
"Increasing political linkages are likely to weigh on Hong Kong`s institutional strength," Moody`s Investors Service said in a statement. "Political risk has risen in Hong Kong in light of ongoing tensions over the implementation of the `One Country, Two systems` policy," it said.
Hong Kong Financial Secretary John Tsang defended the territory`s economic prospects after ratings agency Moody`s downgraded the financial hub`s long-term debt and issuer ratings from "stable" to "negative".
Mr Tsang maintained that "Hong Kong is in a good position to benefit from the structural rebalancing in the mainland`s economy from investment to consumption".