HK regulator blasts Moody's for 'shoddy' report on China companies

Hong Kong

HONG Kong's securities regulator said on Friday that a Moody's Corp report questioning corporate governance at 49 Chinese firms was "shoddy" and "unprofessional" - a report the ratings agency said it stood by even though it contained errors.

The Securities and Futures Commission (SFC), citing internal Moody's emails, said articles critical of Chinese companies by international newspapers and research firms had prompted Moody's to "scrub" the list of Chinese companies whose credit it rated.