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...Vanke still has an investment-grade rating at S&P and Fitch, the latter of which downgraded it in October, citing weak sales....
...“There are inconsistencies in the data set that was just released,” noted Louis Kuijs, head of Asia economics at S&P and a former World Bank economist in China....
...The average net interest margins for all Chinese commercial banks is set to fall to 1.76 per cent in 2023, down 0.17 percentage points from 2022, according to S&P Global China Ratings, and is expected to...
...That is a very important question for the markets and policymakers alike,” said Louis Kuijs, chief Asia economist at S&P Global. “Everyone is asking, ‘Is the Chinese economy stalling?’...
...That’s if you look at the S&P 500, Europe’s Stoxx 600 and China’s CSI 300 indices. The MSCI index of global stocks is on course for its worst month since last September....
...China’s benchmark CSI 300 index of Shanghai- and Shenzhen-listed stocks is down more than 2 per cent this year, compared with a rise of almost 14 per cent for the S&P 500....
...“We believe the company faces significant execution risk in unfreezing offshore cash that could be pledged for onshore borrowings,” S&P analysts noted....
...The Paris-based group, whose chair is former UniCredit chief executive Jean Pierre Mustier, said on Monday it had appointed a mediator to oversee refinancing negotiations with lenders....
...The FT’s Thomas Hale and Cheng Leng set out the details....
...Two weeks after losing its most prominent brand ambassador, the weight-loss group lost another fifth of its value on reports its lenders were preparing for debt talks after S&P cut its credit rating to a...
...Political brinkmanship over the debt ceiling was also the reason for S&P’s credit downgrade of the sovereign in 2011....
...expecting that this year’s growth will be coming from organic sources . . . and they don’t really plan to drive up this growth with very expansionary policy,” said Louis Kuijs, chief Asia economist at S&P...
...S&P cut its US rating after a budget fight and government shutdown in 2011....
...thomas.hale@ft.com...
...In the US, benchmark stock indices moved higher, with the blue-chip S&P 500 adding 0.9 per cent and the tech-heavy Nasdaq Composite rising 0.4 per cent....
...French supermarket chain Casino is expected to begin official negotiations with creditors this week, as a group of wealthy investors circle the indebted retail empire built by Jean-Charles Naouri....
...Now, however, Cifuentes has another mission: he is redeploying his skills to analyse art, exploring issues such as the relative return and risk profile of Jean-Michel Basquiat’s paintings....
...S&P, the rating agency, said in a report this week that it “does not believe the recent policies [state bank lending] aim to bail out creditors”, but instead to “set a floor for the downward spiral for the...
...The S&P 500 stock index closed 1.4 per cent lower on Wednesday....
...Not to mention the giant bejewelled spider brooch that Lady Hale wore to deliver her 2019 Supreme Court verdict that Boris Johnson’s prorogation of parliament had been unlawful....
...S&P cited “narrowing funding channels” when it downgraded it last week, and has withdrawn its ratings at the company’s request....
...Credit analysts have doubts that Rallye can make the payments, and S&P downgraded Casino’s long-term debt to CCC+ in October....
...Louis Kuijs, chief Asia economist at S&P Global, said the latest data showed the current zero-Covid policy was weighing on “organic” economic activity, which includes consumption and corporate and real estate...
...Credit analysts at S&P reckon that Casino can cover its 2024 repayments by selling assets such as shares in its listed Latin American operations....
...Frank Gill, sovereign specialist for Europe, Middle East and Africa at S&P Global Ratings, said he expected European countries to step up their issuance of bonds targeted at retail investors....
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