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Explore S&P Global Ratings 09-May-2024 | 14:39 HKT Presale: Driver China fifteen Trust Download PDF
We expect these local governments to have a worsening budgetary position and higher debt burden because they are facing headwinds from both the economic fallout of the pandemic and of nationwide policies to cut taxes and fees. We believe more state-owned enterprises (SOE) may default in the ...
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ratings these companies gave tomortgage-backed securitiesthat in many cases were made up of riskysubprime loans. The ratings agencies' highly complex models failed to take into account the possibility of a broad nationwide decline in housing prices and how that would affect the performance of the ...