Benjamin J. Garber submits:Standard & Poor’s raised China’s long-term sovereign credit rating from A+ to AA- yesterday, citing the nation’s strong foreign reserves and fiscal position. This comes just over a month after China’s Dagong Global Credit Rating Co. reduced their rating for U.S. debt from AA to A+ (for the full story read my 12 November 2010 article China’s Dagong Lowers U.S. Credit Rating). S&P also affirmed its short-term ratings at A-1+; the outlook is stable.
The agency’s credit analyst Kim Eng Tan remarked,
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