Moody’s is considered one of the Big Three credit rating agencies in the world. Moody’s is considered one of the Big Three credit rating agencies in the world. The downgrade by one notch to an A1 rating from Aa3 comes as the Chinese government grapples with the challenges of slowing economic growth and rising financial risks stemming from soaring debt. “The downgrade reflects Moody’s expectation that China’s financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows,” Moody’s said in a statement. S&P’s AA- rating is one notch above both Moody’s and Fitch Ratings’ A+ rating.

Source: Indian Express May 24, 2017 02:15 UTC