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Moody's downgraded China's long-term local and foreign currency issuer ratings to A1 from Aa3, citing expected erosion of financial strength as debt rises and growth slows. China's Finance Ministry rejected the decision, calling the methodology inappropriate.
The outlook was changed to stable from negative.
The downgrade highlights financial risks that could slow Chinese economic growth and reduce demand for imported feed ingredients. Its direct effect on feed prices is modest, but it adds to uncertainty about China's import outlook.
newsweek.comReutersMay 24, 2017
scmp.comLaura HeMay 24, 2017Not enough comparable past events yet for a historical read.
After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
