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S&P Affirm China's Sovereign Rating at A+; Outlook Stable

CHINA
  • The ratings actions comes despite S&P downgrading their 2023 growth view for the country in recent weeks.

Highlights from the report:

  • Weak global demand and the overhang in its property sector are dampening [the] recovery.
  • Fiscal position has deteriorated due to an increase in government debt and interest burden, but we expect some consolidation over the next two years.
  • The outlook on the long-term ratings remains stable, reflecting our view that the economic recovery will continue, albeit at a slower pace, and China's fiscal performance will start to improve over the next two to three years.

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