The territory’s economy has grown by 10.5 percent year-on-year in real terms during the first three quarters of 2013, official data show.
Driven by fast economic growth, Macau has achieved sustained large surpluses, Dagong said.
The government’s budget surplus reached 96.96 billion patacas (US$12.14 billion) in the first 11 months of 2013, rising by 27.5 percent from a year earlier, official data show.
The surplus will be added to the fiscal reserve, established in February last year. The reserve held 168.07 billion patacas in October, official data show.
The fiscal reserve accounted for about 63.4 percent of Macau’s gross domestic product – wealth creation –, according to Dagong.
The city’s “abundant fiscal and foreign exchange reserves are still adequate to underpin the government’s solvency,” the agency wrote.
Dagong believes Macau will continue to accumulate surpluses and remain free of debt, thus ensuring the territory’s strong fiscal strength in the future.
The city’s rating remained below neighbouring Hong Kong, which reached the highest value, AAA, with a stable outlook.