Stress-tested developers could lack sufficient liquidity to meet debt repayments if property slump continues, warns rating agency

S&P cut the company and its China unit by two notches to BB, due to deteriorating liquidity and asset-monetization delays

S&P warns of risk of downgrade for Chinese chipmaker if business is disrupted

S&P and Fitch unveil tailored rating practices for China, sparking concerns over trustworthiness

A surprise default last month shakes investors’ faith in such government-backed bonds

Ratings agency gives company stable outlook, citing its strong link to government

Industry body says agency fails to ‘see forest for trees,’ overlooks recent improvement in credit quality, risk control

Ministry of Finance says decision ignores country’s sound economic fundamentals and government efforts to control financial risks