Fitch downgrades China’s sovereign debt over spending and tariffs

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Fitch downgrades China’s sovereign debt over spending and tariffs

Beijing denounces ‘biased’ move by rating agency, insisting country’s economic foundations are stable

Fitch cuts China rating on weakening finances, debt concerns

China’s Ministry of Finance reacted strongly, describing the decision to downgrade from “A+” to “A” as biased and not reflective of reality.

Financial rating agency Fitch downgraded China's sovereign rating by one notch on Thursday, citing expectations of a continued deterioration in public finances and a rapid rise in debt, Reuters reports.

Fitch Downgrades China's Rating To 'A', Outlook Stable

Global ratings agency Fitch downgraded China's long-term foreign-currency issuer default rating from 'A+' to 'A' on Thursday, noting weakening finances and debt concerns. "The downgrade reflects our expectations of a continued weakening of China's public finances and a rapidly rising public debt trajectory during the country's economic transition," Fitch said in a statement. It added that China's rating outlook was stable.  While the ratings dow…

Fitch Cuts China Rating Over Weakening Finances, Debt Concerns

Fitch Ratings downgraded China’s long-term foreign-currency issuer default rating on concerns of the country’s weakening public finances and rising public debt.