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Moody's downgrading based on inappropriate methodology: China

Downgrade reflects Moody's expectation that China's financial strength will erode in coming years

Press Trust of India  |  Beijing 

China's Finance Ministry on Wednesday dismissed a credit downgrade by Moody's, saying it is based on "inappropriate methodology" and argued that the rating firm has overestimated the difficulties faced by the world's second largest economy. The ministry's statement came after Moody's Investors Service on Wednesday downgraded its rating for China for the first time since 1989 out of concerns that the Chinese government's efforts to spur economic growth with fiscal policy will lead to rising debt. "China's economy made a good start in the ...

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First Published: Wed, May 24 2017. 21:02 IST
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