Fitch Ratings has affirmed Macau SAR’s Long-Term Issuer Default Ratings at “AA” (foreign and local currency) with a Stable Outlook, a decision anchored in the enclave’s exceptionally strong fiscal and external positions and continued adherence to prudent fiscal management, according to the Monetary Authority of Macao (AMCM).
For casino operators and suppliers, the signal matters: an “AA/stable” profile supports predictable public financing capacity, lowers perceived sovereign risk in long-horizon projects, and helps maintain confidence around infrastructure and tourism-led investment cycles tied to gaming demand.
Fitch’s macro view remains constructive but measured. The agency expects Macau’s economy to expand at a moderate pace in 2026, supported by favourable travel policies, increased non-gaming investment, and ongoing upgrades to tourism-related infrastructure.
Sector-linked indicators also point to normalization: Fitch-linked coverage projects GDP growth of about 4.0% in 2026 (down from 2025’s pace) while gross gaming revenue continues recovering, supported by mass-market resilience—particularly premium mass—as visitation from mainland China stabilizes.
