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Fitch Revises Outlook On China To Negative; Affirms At 'A+'
Fitch Ratings has revised the Outlook on China's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable, and affirmed the IDR at 'A+'. A full list of rating actions is at the end of this rating action commentary. Key Rating Drivers: Negative Outlook: The Outlook revision reflects increasing risks to China's public finance outlook as the country contends with more uncertain economic prospects amid a transition away from property-reliant growth to what the government views as a more sustainable growth model. Wide fiscal deficits and rising government debt in recent years have eroded fiscal ... (full story)