MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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UTILITIES: Thames Water (Ba2/NR/NR): Moody’s Rating Cut

UTILITIES

THAMES € class A down 2.5-4 points

  • Moody’s cuts Thames Water by 2 notches to Ba2 and the outlook remains negative.
  • Class A is downgraded to Ba1, class B to B3.
  • Ofwat requires investment grade ratings for compliance with its licensing requirements, so an enforcement action could be triggered. That could potentially justify SAR action from the government, although they have been keen to avoid that scenario. It remains to be seen if their position will change on this and the draft determination, but importantly that was a pre-election stance.
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