- Driving the new record high in risky ratings was a spate of downgrades on Chinese real estate developers as worries grew over their ability to repay debt.
- Moody’s said it issued 91 downgrades for high-yield Chinese property developers in the last nine months.
- That’s a record pace, the agency said, considering it issued only 56 downgrades for such companies in the 10 years ending December 2020. READ MORE
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