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Moody's Downgrades China's Credit Ratings

  • As per reports, China's credit ratings were downgraded Moody's Investors Service on Wednesday. It expects the financial strength of the economy will corrode in coming years as growth slows and debt persists to rise.

    According to China's Finance Ministry, the downgrade overrated the threats to the economy and was based on inapt methodology.

    Reports further say that the downgrade may moderately increase the cost of borrowing for the Chinese government and its state-owned enterprises.