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Downgrade! China gets a double dose of caution from Moody's and MSCI

Moody's downgrades sovereign credit rating, MSCI says several issues have to be resolved

Chris Anstey & Enda Curran 

For all the verbiage from Chinese officials on the need to rein in leverage and open markets to global investors, the nation’s leadership got a double dose of caution on Wednesday. Moody’s Investors Service unveiled a surprise downgrade of China’s sovereign credit rating, citing concerns about its continued buildup of debt. Earlier, the head of one of the world’s top stock-index compilers suggested China had more work to do to get its onshore stocks into emerging-market gauges. With a June 20 deadline looming, “there’s still a lot of issues to ...

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