China: Increasing credit differentiation between regions and sectors
While some common trends will shape credit for most Chinese issuers, differences in revenue growth, scope to deleverage, exposure to tight liquidity or policy changes, point to differentiation between regions and sectors.
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    16 OCT 2019|行业深度研究|MOODY'S INVESTORS SERVICE
    本报告中覆盖的53家受评房地产开发商 (受评开发商共68家) 信用指标将在未来12-18个月改善,原因是收入增速超过债务增速。
    15 OCT 2019|行业深度研究|MOODY'S INVESTORS SERVICE
    Trade tensions add to risks of a further slowdown in global growth.
    14 OCT 2019|数据报告|MOODY'S INVESTORS SERVICE
    8月份,在经济增长放缓以及政府大规模减税的形势下,中国 (A1/稳定) 地方政府竭力改善其财政状况。地方政府通过加快发债步伐和提高非税收入来应对经济趋弱的环境。
    10 OCT 2019|行业深度研究|MOODY'S INVESTORS SERVICE
    The average covenant quality (CQ) score for Asian high-yield bonds in the third quarter of 2019 was 3.31 (moderate ↓).
    09 OCT 2019|行业深度研究|中国房地产市场焦点|MOODY'S INVESTORS SERVICE
    人民币兑美元贬值约10% (从8月27日的7.15贬值到8.0)的情景假设下,多数开发商的信用指标仅小幅转弱。未来12-18个月这些开发商强劲的收入和利润将缓冲人民币兑美元贬值的负面影响。
    30 SEP 2019|行业深度研究|MOODY'S INVESTORS SERVICE
    Continued acceleration in asset growth adds to new asset risk but poses only limited strain on bank capitalization and liquidity.
    30 SEP 2019|行业深度研究|MOODY'S INVESTORS SERVICE
    2019年上半年广义影子银行资产规模减少人民币1.7万亿元,达到人民币59.6万亿元。
    30 SEP 2019|行业深度研究|MOODY'S INVESTORS SERVICE
    Corporates with elevated leverage will pose risks to Asian banks' asset quality in 2019 as economic growth slows globally amid growing trade and geopolitical tensions.
    27 SEP 2019|行业评论|MOODY'S INVESTORS SERVICE
    The transactions have no impact on the banks’ operation or our government support consideration.
    27 SEP 2019|行业评论|MOODY'S INVESTORS SERVICE
    The new mechanism will lead to a reduction in average tariffs in 2020 because market-oriented tariffs which are based on bilateral agreements are lower than the regulated tariffs