The Business Times
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More downs than ups for China's junk bonds

Combined 35 rating cuts by S&P, Moody's exceed four upgrades

Published Fri, May 8, 2015 · 09:50 PM

    Hong Kong

    CHINA'S junk bonds suffered nine times more downgrades than upgrades this year, and another issuer faced a final deadline on Friday after the first default by a developer.

    A combined 35 rating cuts on the US dollar-denominated notes by Standard & Poor's and Moody's Investors Service exceeded four upgrades, data compiled by Bloomberg show.

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