More downs than ups for China's junk bonds
Combined 35 rating cuts by S&P, Moody's exceed four upgrades
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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