Urban Renewal Authority 2018-19 Annual Report

156 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 13. Cash and bank balances (Continued) The credit quality of the cash and bank balances, deposited with financial institutions, which are Hong Kong Dollars and USD, can be assessed by reference to external credit ratings of the financial institutions and are analysed as follows: Rating (Moody’s) 2019 2018 $’000 $’000 Aa1 – Aa3 3,124,084 5,563,960 A1 – A3 10,548,417 10,472,217 Others 23,609 199,454 13,696,110 16,235,631 Reconciliation of liabilities arising from financing activities: The table below details changes in the Group’s liabilities from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities and liabilities for which cash flows were, or future cash flow will be, classified in the Group’s consolidated statement of cash flows as cash flow from financing activities. Debt securities issued 2019 2018 $’000 $’000 At 1 April 2,790,706 3,287,949 Changes from financing cash flows: – Redemption of debt securities – (500,000) Other changes: – Amortisation of debt securities issuing costs 2,631 2,757 Balance as at 31 March 2,793,337 2,790,706