SP Global Warns on China Credit Ratings
SP Global Ratings cautions that generous domestic credit ratings introduce hidden risks into China rapidly growing onshore bond market as Beijing attracts more foreign issuers. Regulators are currently pushing agencies to improve credit differentiation.
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S&P GLOBAL INC warned Thursday that inflated credit ratings in China's 37 trillion yuan ($5.5 trillion) bond market are introducing severe default risks. Nearly 90% of issuers hold top-tier ratings domestically despite starkly lower global marks.
