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China tech

SMIC on the edge of 'junk' bond status after US sanctions

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

HONG KONG - S&P Global Ratings on Wednesday has put Semiconductor Manufacturing International Corp. on the brink of a ratings downgrade, warning of rising supply chain risk for the Chinese chipmaker after U.S. sanctions.

The decision to add SMIC to a negative credit watch list is the latest sign of mounting pressure on the Chinese chip company, after the U.S. Department of Commerce told some suppliers that exports to SMIC would be subject to further restrictions and would require a license.

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