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.
