The Hong Kong Monetary Authority (HKMA) announced today (9 August) that Japan Rating and Investment Information, Inc. (R&I), a recognised credit rating agency for the purpose of the profits tax concession scheme under section 14A (4) (b) of the Inland Revenue Ordinance, has changed its name to Rating and Investment Information, Inc. Accordingly, the five existing credit rating agencies which have been recognised by the HKMA for the purpose of the profits tax concession scheme since May 1996 are:
| Recognised rating agency | Minimum rating required |
| Fitch, Inc. | BBB- |
| R&I | BBB+ |
| TBW | BBB+ |
| Moody's | Baa3 |
| S&P's | BBB- |
The HKMA reserves the right to make adjustments to the list of recognised rating agencies and the minimum rating requirements from time to time.
For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Alice Lo, Manager (Press), at 2878 1843
Hong Kong Monetary Authority
9 August 2000
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