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Fitch Ratings downgrades China's credit to 'Negative' as deficits 'erode fiscal buffers'
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investmentweek.co.ukFitch moved China's Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘Stable' to ‘Negative' due to «increasing risks to China's public finance outlook as the country contends with more uncertain economic prospects amid a transition away from property-reliant growth to what the government views as a more sustainable growth model». It said: «Wide fiscal deficits and rising government debt in recent years have eroded fiscal buffers from a ratings perspective.» EFG's Afzal and Gerlach: A letter from Hong Kong According to Fitch, fiscal policy is «increasingly likely» to play...
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