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Hong Kong leader Lam says 'very disappointed' by Moody's downgrade

Reuters
2020 World Economic Forum in Davos

DAVOS, Switzerland (Reuters) - Hong Kong Chief Executive Carrie Lam said on Tuesday she was "very disappointed" by ratings agency Moody's decision to downgrade the city's credit rating by one notch this week.

"I am even more disappointed by their assessment of the Hong Kong situation, and their comment on the weak institutions and governance," said Lam, speaking in an interview with CNBC while visiting the annual World Economic Forum meeting in Davos.

"Because after seven months of social unrest, what has proven to be resilient is Hong Kong institutions, and also Hong Kong governance."

Hong Kong has been roiled by more than seven months of often violent protests, in the biggest political crisis for the former British colony since its return to Chinese rule in 1997.

(Reporting by Alex Richardson; editing by Nick Macfie)