ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Trade war

Credit downgrades accelerate on all sides in US-China trade war

S&P's corporate rating cuts far outpace upgrades

An employee works inside a textile factory in Linhai, Zhejiang province, China. Companies in apparel, energy and automobile parts have been downgraded due to the trade war.   © Reuters

TOKYO -- Credit rating agencies have downgraded listed companies worldwide at rarely seen levels this year, underscoring the risks to the global economy posed by the prolonged U.S.-China trade war.

The 487 downgrades for financial and nonfinancial companies through Aug. 13 outpaced the number of upgrades by 60, data from S&P Global Ratings show. The number of downgrades have not surpassed upgrades for a full year since 2016.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more