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China Debt Upgrade Looms as a ‘Double-Edged Sword’

China joined emerging markets from Turkey to Colombia whose debt ratings may rise, a trend that might make it cheaper for them to borrow while escalating pressures for their currencies to appreciate.

China may be upgraded within three months from the fifth-highest ranking of A1, Moody’s Investors Service said in an e-mail today, citing the nation’s economic strength and ability to contain losses from unprecedented lending.