China’s Largest Corporates: Credit Profiles under Increasing Pressure: S&P

16 Feb 2016 – The recent evolution and forecasts in terms of debts and cash-flow is worrying for Chinese corporates, in particular for the consumer, capital goods and building material sectors.

Besides, the question of the support from the central state is becoming more acute as more and more state-owned companies are facing financial pressures and have become vulnerable to any drastic slowdown in economic growth. There is broad consensus that the state will inevitably be more and more selective in its financial support.

As a result, the credit quality of Chinese corporates is now a major theme for the global economy: It has emerged as a top concern for global investors and any further rapid, prolonged deterioration will likely have significant impact on the world economy, the commodities markets and international trade.

To discuss this topic, the French Chamber welcomed Guy Deslondes, MD and GM Corporate Ratings Asia-Pacific at Standard & Poor’s Ratings Services’ Corporate Ratings in Asia Pacific, and Christopher Lee, Chief Ratings Officer, Greater China for Standard & Poor’s.




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