Forexyard, 5 Jul 2011
SINGAPORE, July 5 (Reuters) - Moody's ratings agency said on Tuesday that the scale of problem loans to Chinese local governments was greater than anticipated, following the release of new data by China's National Audit Office (NAO).
Moody's also said its credit outlook for the Chinese banking system may turn to negative when considering the apparent absence of a clear master plan to deal with the local government debt issue. Full story
