Moody’s cuts China credit outlook to negative on rising debt

Tuesday, 5 December 2023
Moody's cuts outlook for Chinese sovereign bonds to negative, highlighting global concerns about debt levels in the world's second-largest economy. China's usage of fiscal stimulus to support local governments and state-owned companies poses downside risks to the economy, according to Moody's. This comes as China ramps up borrowing to bolster its economy amid a deepening property crisis. Moody's last downgraded China's credit rating in 2017 due to concerns about rising debt. Fitch Ratings has also expressed the possibility of reconsidering China's sovereign credit score.

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