Moody's Upgrades China's Credit
Tweet
Share
E-mail
Get Alerts MCO Hot Sheet
Join SI Premium – FREE
Moody's upgraded China today from A1 to Aa3 today, citing the country's resilient economic performance and sound balance of payments. The credit outlook remains positive.
"The record of the past year demonstrates that China's policy response to the 2008 crisis has been effective. Real GDP growth initially rebounded rapidly in response to the stimulus measures, and is moderating to a more sustainable rate of growth, which seems likely to be around 9%-10% this year, and perhaps 8%-9% in 2011," said Tom Byrne, a Moody's senior vice president.
The upgrade of China by U.S.-based Moody's (NYSE: MCO) comes just days after China credit rating agency Dagong downgraded the U.S. credit rating from "AA" to "A+", citing "deteriorating debt repayment capability and drastic decline of the government’s intention of debt repayment."
"The record of the past year demonstrates that China's policy response to the 2008 crisis has been effective. Real GDP growth initially rebounded rapidly in response to the stimulus measures, and is moderating to a more sustainable rate of growth, which seems likely to be around 9%-10% this year, and perhaps 8%-9% in 2011," said Tom Byrne, a Moody's senior vice president.
The upgrade of China by U.S.-based Moody's (NYSE: MCO) comes just days after China credit rating agency Dagong downgraded the U.S. credit rating from "AA" to "A+", citing "deteriorating debt repayment capability and drastic decline of the government’s intention of debt repayment."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hackers targeted US private equity, other firms including Blackstone, CME - Reuters
- Wells Fargo Upgrades Dick's Sporting Goods (DKS) to Overweight following Sporting Goods deep dive
- Susquehanna Downgrades The Trade Desk (TTD) to Neutral
Create E-mail Alert Related Categories
Credit RatingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
