S&P Downgrades China’s Credit Rating, Saying Rocketing Debt Is Stoking Economic Instability

Standard & Poors lowered its view of China’s creditworthiness, less than a month ahead of the country’s most important and sensitive political gatherings. S&P downgraded China to A+ from AA-, a one notch change. It also changed its outlook for the country’s credit rating from negative to stable, implying that investors should not expect further downgrades in the near future.-- More...