China’s credit rating has been downgraded by Moody’s Investor Services on expectations the country’s financial strength will “erode somewhat” over coming years as debt rises, but there is no indication of further immediate downgrades from Moody's at the service after the downgrade lifted the country's outlook to stable from negative.
The cut has put Chinese stocks on track for one of their biggest one-day drops this year.
-RW
(ht Felix Bronstein)
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