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 [分享]Moody’s Raises China Debt Rating on Financial Strength |
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高树
头衔: 海归准将
声望: 学员
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加入时间: 2007/03/13
文章: 489
来自: 美国加州旧金山湾区
海归分: 121480
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作者：高树 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Moody’s Raises China Debt Rating on Financial Strength
November 10, 2010, 11:48 PM EST
Nov. 11 (Bloomberg) -- Moody’s Investors Service raised China’s debt rating to its fourth highest ranking, citing the nation’s financial strength and ability to contain losses from a credit boom.
The increase is to Aa3 from A1, with a positive outlook, Moody’s said in a statement today. The cost of protecting China’s sovereign debt against default for five years fell three basis points to 53.5 basis points, according to BNP Paribas price for credit-default swaps.
The nation’s efforts to tackle asset bubbles and avert the spread of bad loans has meant the “likely containment and effective management” of losses from record lending last year to counter the financial crisis, Moody’s said. That combined with China’s “resilient” economic growth were reasons for the upgrade, the ratings company said.
“There is the potential for other ratings agencies to follow,” said Frances Cheung, a Hong Kong-based senior strategist at Credit Agricole CIB. “If you look at China’s external positions, or the loan-to-deposit ratio and the growth potential, of course China should be even higher on the table.”
Hong Kong’s rating rose to Aa1 from Aa2.
China’s economy, the world’s fastest-growing, expanded by 9.6 percent in the third quarter. Exports gained 22.9 percent from a year earlier in October, with the nation posting a larger-than-forecast $27.1 billion trade surplus for the month.
Currency Tensions
China may pass the U.S. to become the biggest economy in 2012 based on a measure used to compare purchasing power in different countries, the Conference Board, a New York-based research organization, said yesterday.
Trade and currency tension between China and the U.S. is likely to be “constructively managed,” Moody’s said.
Presidents Barack Obama and Hu Jintao are among leaders gathering today in Seoul for Group of 20 nations meetings to discuss global trade and capital imbalances. The yuan yesterday gained 0.51 percent against the dollar, the biggest daily advance since China abandoned a peg against the greenback in July 2005.
The government has taken steps to curb inflation and speculation in real-estate. Data released yesterday showed that property prices in 70 major Chinese cities grew in October at the slowest pace in 10 months after the government raised requirement down payment for mortgages and limited sales in some cities to one home per family.
China’s central bank yesterday raised reserve requirements for the nation’s lenders by 50 basis points from Nov. 16, after increasing benchmark lending and deposit rates last month for the first time since 2007. Some banks, including Bank of Communications Co., had an additional increase, meaning their requirements rise a full percentage point, two people with direct knowledge of the situation said today.
Still, consumer prices rose 4.4 percent in October from a year earlier, the biggest gain in two years, a statistics bureau report showed today.
--With assistance from Shelley Smith in Hong Kong. Editors: John Liu, Paul Panckhurst.
%CNY %HKD
To contact the reporter for this story: Henry Sanderson in Beijing at [email protected]
To contact the editor responsible for this story: William McSheehy at [email protected]
作者：高树 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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