While corporate debt is a 'fault line' in many economies, Moody's Chief Economist Mark Zandi flagged Chinese indebted companies as the 'biggest threat.'
While corporate debt is a "fault line in the financial system and the broader economy," Moody's Chief Economist Mark Zandi flagged Chinese indebted companies as the "biggest threat."
In an October report, the ratings agency put it down to a tightening of credit as a result of the government's deleveraging efforts. "I would point to Chinese corporate debt as the biggest threat," he said, adding that it's growing very rapidly in China. "In the United States, it's similar kind of picture — not to the same degree — but we have seen very significant increase in so-called leveraged lending, as in lending to highly indebted companies, and they are vulnerable if the economy were to slow," Zandi said.
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