Moody’s last cut China’s sovereign rating was in 1989, when it downgraded the sovereign to Baa2 from Baa1, according to spokesperson, Manvela Yeung. Moody’s lowered China’s credit rating outlook to negative from stable in March 2016, citing rising debt, falling currency reserves and an uncertainty over authorities ability to carry out reforms. China’s sovereign debt is mostly held by domestic investors, shielding the nation somewhat from the impact of ratings changes. This downgrade in China's sovereign debt rating challenges the view that the nation’s leadership will be able to rein in debt while maintaining the pace of economic growth. 24/05/2017 Bloomberg News agency The credit rating agency Moody’s Investors Service has cut its credit rating on China’s sovereign debt for the first time since 1989, 28 years ago.

Source: Bangkok Post May 24, 2017 06:11 UTC