TEXT-S&P says China's credit metrics turn negative
12-Oct-2012 23:41
(The following statement was released by the rating agency)
Oct 12 - China has been unable to sustain its growth momentum in the year of the dragon, leading Standard & Poor's economists to lower their growth expectations for the country, according to a Global Fixed Income Research report titled "Emerging Markets Credit Metrics: Rating Trends In China Turn Negative."
"Corporate downgrades have been increasing and the country's negative bias has edged up," said Diane Vazza, Managing Director for Global Fixed Income Research. "However, investors continue to wait for the government to introduce growth-stimulating measures and lead global recovery."
Key highlights from China's credit metrics include:
-- China's real GDP growth rate declined to 7.6% in the second quarter of 2012, from 8.1% in the