Moody's Investors Service has issued a negative rating outlook on China's sovereign bonds, prompting Chinese state media to label the agency as biased. The Chinese government's response was relatively restrained, indicating concerns about escalating debt. Moody's also advised its staff in China to work from home before announcing the rating cut. Hong Kong officials accused the U.S.-led West of attempting to tarnish the city's credit outlook and China's reputation. The report has raised doubts about Moody's understanding of China, with the agency also cutting the rating outlook for Hong Kong and Macau.
Financial Times @ft: Moody's Told China Staff to Stay Home Ahead of Rating Cut – FT - Asia Financial. #ArtificialIntelligence #GenAI #robotics https://t.co/kO7SBdDADB
ICYMI Moody's cuts Hong Kong, Macau and bank rating outlooks following China move https://t.co/vT04VADCcO
This report increases my doubts about the degree of Moody’s understanding of China. https://t.co/pc5tg83fAi
this will help investor confidence in HK "Eric Chan, Hong Kong’s No. 2 official, called Moody’s decision to lower the city’s credit outlook an attempt by the U.S.-led West to smear the financial hub as well as China. “Its sole purpose is to use Hong Kong as a means of suppressing… https://t.co/D6uEZqmSsT
Moody’s Investors Service advises its staff in China to work from home ahead of its announcement this week cutting the outlook for sovereign bonds to negative in the world’s second largest economy, the Financial Times reports https://t.co/oyo8l19kO0
Moody’s Investors Service advises its staff in China to work from home ahead of its announcement this week cutting the outlook for sovereign bonds to negative in the world’s second largest economy, the Financial Times reports https://t.co/ZSOELvnpng
Chinese state media: Moody's issued its negative rating outlook because it's biased. https://t.co/Mh9uFWiQtf
CHINESE MEDIA CALLS MOODY'S 'BIASED' (Reuters) Chinese media called Moody's "biased" for its negative rating outlook on the world's No. 2 economy, but some analysts said the government's official reaction was more restrained, signaling Beijing's own worries about surging debt. https://t.co/2gWXGV3bFO