Standard & Poor’s lowered China’s sovereign credit rating, joining a growing chorus of alarm over the nation’s soaring debt levels despite government pledges to fend off financial risks.
BEIJING—Standard & Poor’s lowered China’s sovereign credit rating, joining a growing chorus of alarm over the nation’s soaring debt levels despite government pledges to fend off financial risks.
In a Thursday statement, S&P Global Ratings said it downgraded China’s rating to A-plus from AA-minus, while changing its outlook to stable from negative.
