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Fitch warns on China debt

April 10, 2013 5:43 AM
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Fitch warns on China debt

Fitch Ratings has issued a warning over excessive debt levels in China, arguing that a surge in credit and a reliance on murky lending practices have increased the chance of financial instability.

Fitch cut China's long-term local currency rating Tuesday to A+ from AA-, bringing it in line with the country's foreign debt rating. The ratings downgrade applies only to debts denominated in yuan.

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