News Snapshot:
China’s credit-rating firms are doling out more triple-A bond ratings, a trend that has continued this year in spite of the coronavirus pandemic and greater borrowing by companies in the world’s second-largest economy. As of mid-October, more than 18.3 trillion yuan, equivalent to $2.7 trillion, in outstanding yuan-denominated bonds issued by companies and financial institutions in mainland China had the highest possible rating from the country’s credit raters, according to data provider Wind and asset manager Invesco Ltd. Bonds with triple-A grades currently make up 57% of all the onshore Chinese corporate debt that is outstanding. The proportion of top-rated...
