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1.Market Observations, 8.Was Sticky

26 May 2017 (AFR) – Moody’s downgrade highlights China challenge

(26 May 2017, AFR, p29, by Tom Mitchell, Gabriel Wildau and Don Weinland)

‘Less than two weeks after China said it would open its domestic market to US rating agencies, Moody’s cut its credit rating for the first time in a quarter of a century. It cited financial and economic risks flagged in recent months by Chinese officials, who were nonetheless quick to criticise the move. There followed automatic Moody’s downgrades of 26 state-owned enterprises with ratings tied to the government’s.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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