Fitch downgrades Hong Kong as rallies drag on

Fitch Ratings on Friday downgraded Hong Kong’s long-term foreign-currency issuer default rating (IDR) to “AA” from “AA+” with a “negative” outlook. Months of persistent conflict and violence are testing the “One country, two systems” framework that governs Hong Kong’s relationship with the mainland, as mainland officials take a more public stance on Hong Kong affairs than […]