Moody's Downgrades China

Feedburner, Business Insider
Wed, 05/24/2017 - 3:41am

Getty ImagesMoody’s Investors Services cut China’s long-term local and foreign currency issuer ratings on concerns the country’s financial strength would erode in the coming years, while debt rises. The outlook for China was changed from stable to negative. The rating was dropped by a notch from Aa3 to A1, which is still comfortably in the investment grade, Moody’s said. “Moody’s expects that economy-wide leverage will increase further over the coming years,” the ratings agency said. “The planned reform program is likely to slow, but not prevent, the rise in leverage.

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Moody's Downgrades China

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