The U.S. agency revealed the findings as part of its investigation into long-term domestic currency issuer default ratings (IDRs) and long-term foreign currency IDRs in several countries in the third quarter, including South Korea, Singapore and the Philippines, according to a report by GGRASIA.

Fitch Ratings on Tuesday reportedly said the slowdown in South Korea and Singapore had been “particularly marked” as they relied heavily on the electronics sector and were exposed to “global tech cycles and trade disputes,” but the financial services firm determined the country maintained a stable outlook, with a slightly higher “AA-” score for Singapore.슬롯사이트

For the Philippines, GGRASIA reported that the survey gave nearly 101 million people a “BBB” rating after balancing “further creditor status with relatively high growth rates,” but the assessment said it expected future growth to remain at 6.3% year-on-year

Macau is said to have retained its “AA” rating on the grounds that it is the only screening jurisdiction without government debt, despite the casino industry’s recent decline of 1.9% year-on-year in the eight months to the end of August.

Fitch also declared that Macau has historically enacted a “careful spending management” policy and has a large cash reserve estimated to be about 136% of Macau’s GDP in 2018, but the organization detailed that future growth could be ‘limited’ by Macau’s high levels of volatility in addition to focusing on the gaming sector and mainland tourism