- Moody’s downgraded its outlook on China’s government credit ratings to negative from stable.
- Moody’s expects Beijing’s support and possible bailouts for distressed local governments and state-owned enterprises to diminish China’s fiscal, economic and institutional strength.
- The ratings agency retained China’s “A1” long-term rating on the country’s sovereign bonds.
Chinese yuan cash bills and chinese flag (money, economy, finance, inflation, crisis)
Javier Ghersi | Moment | Getty Images
Ratings agency Moody’s downgraded its outlook on China’s government credit ratings to negative from stable, expecting Beijing’s support and possible bailouts for distressed local governments and state-owned enterprises to diminish China’s fiscal, economic and institutional strength.
Moody’s though retained China’s “A1” long-term rating on the country’s sovereign bonds, while expecting China annual GDP growth…
