S&P lowered rating of Hong Kong to AA+ after downgrade of China

Almaty. September 22. Silkroadnews – S&P lowered rating of Hong Kong to AA+ after downgrade of China, Reuters reported.
“Standard and Poor’s lowered Hong Kong’s long-term rating from AAA to AA+ on Friday following its earlier downgrade of China’s sovereign rating,” report says.
“We see very strong institutional and political linkages between China and the Special Administrative Region of Hong Kong. “Following the earlier downgrade of the sovereign credit rating on China, we are lowering the rating on Hong Kong to reflect potential spillover risks to the SAR should deleveraging in China prove to be more disruptive than we currently expect,” the publication reads quoting S&P statement.
With this it is also said the rating agency downgraded China’s rating from AA- to A + on Thursday, citing debt risk.
It is reported that S&P changed Hong Kong’s outlook from negative to stable on Friday and said it expects Hong Kong to retain “its strong credit metrics across the board in the next two to three years.”