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"Moody’s cuts China credit outlook to negative on rising debt
Moody’s Investors Service cut its outlook for Chinese sovereign bonds to negative, underscoring deepening global concerns about the level of debt in the world’s second-largest economy. Moody’s last cut its credit rating on China in 2017, to A1 from Aa3, on the likelihood of a material rise in economy-wide debt and the impact that would have on state finances. That was its first China debt downgrade since 1989. Earlier this year, Fitch Ratings Ltd. said in an interview with Bloomberg television that it may reconsider China’s A+ sovereign credit score. The firm recently affirmed such a rating with a stable outlook. S&P Global Ratings has kept China’s ratings at A+ with stable outlook since its last downgrading in 2017 that followed a similar move by Moody’s."
#china #economy #debt #creditoutlook #sovereignbonds #rating