Economics
China Rating Outlook Cut at S&P on Risk of Slow Rebalancing
- Move follows Moody's outlook cut earlier in the month
- Slower pace of Chinese economic rebalancing seen by S&P
China Rating Outlook Cut to Negative From Stable at S&P
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Standard & Poor’s has cut the outlook for China’s credit rating to negative from stable, saying the nation’s economic rebalancing is likely to proceed more slowly than the ratings firm had expected.
China’s AA- long-term credit rating now has a negative outlook, S&P said in a statement. Earlier in March, Moody’s Investors Service made a similar revision, highlighting surging debt and questioning the government’s ability to enact reforms.