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China's deleveraging to be much more gradual than expected in next few years -S&P

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China's deleveraging to be much more gradual than expected in next few years -S&P

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BEIJING (Reuters) – S&P Global Ratings said on Friday that China’s deleveraging process will be much more gradual than expected in the next few years, a day after the agency downgraded the country’s sovereign credit rating due to risks stemming form a rapid debt buildup. S&P analysts said during a teleconference the agency does not expect China’s credit growth peaking within one to two years but added risks to the sovereign rating will stabilise in the next few years. S&P on Thursday lowered China’s sovereign rating to A+ from AA-.

(Reporting by Yawen Chen, Elias Glenn and Ryan Woo; Writing by Se Young Lee; Editing by Sam Holmes)
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