Moody’s Downgrades China’s Rating, Bleak Expectations Follow

[kreslik.news]

Moody’s Investors Service today significantly lowered China’s long term local currency and foreign currency issuer ratings from Aa3 to A1, which means a change in outlook from stable to negative. The downgrade is a reflection of Moody’s expectation that the country’s financial strength will weaken in the next few years, following a continuously rising economy-wide debt and a slowing down of potential growth.

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Though progressing reforms are likely to change the economy and financial system over time, they might not stop rising debt or the consequent growth in contingent liabilities for the ... (read more)