Mexican Media Brands
Moody’s Cuts China Debt Rating
Moody’s Investor Services has lowered its rating on China’s debt by one notch to A1 on worries about the country’s rising debt and slowing economic growth.
#economics
Share
Moody’s Investor Services has lowered its rating on China’s debt by one notch to A1 on worries about the country’s rising debt and slowing economic growth.
Last month the agency changed its outlook from “stable” to “negative.” This week’s rating downgrade was Moody’s first downward adjustment for China since 1989. The country’s rating now equals that of Israel, Japan and Saudi Arabia.
China’s debt has ballooned from 149% of gross domestic product in 2008 to 253% last year, according to J.P. Morgan. The Wall Street Journal says the increase has been driven by the country’s massive economic stimulus measures in 2008-2009 and overexpansion by key industries.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.