China downgrade does little to sour bonds

Offshore bonds largely defy a one-notch Moody's downgrade of the sovereign, with secondary prices moving out only by a few basis points — and at least one issuer braving the primary market.
May 24, 2017

When a rating agency downgrades a major economy, it is supposed to be big news. But after Moody’s cut its rating on China from Aa3 to A1 on Tuesday, debt investors largely shrugged.

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