Ratings agency Moody’s slapped a downgrade warning on China’s credit rating on Tuesday, saying costs to bail out local governments and state firms and control its property crisis would weigh on the world’s No. 2 economy.
Moody’s lowered the “outlook” on China’s A1 debt rating to “negative” from “stable” less than a month after it had done the same to the United States’ last remaining triple-A grade from a credit rating agency.
