S&P cuts China's debt rating over 'financial risks'

BEIJING, China – Standard & Poor's slashed China's credit rating on Thursday, September 21, warning that a prolonged period of debt growth had raised "economic and financial risks".

S&P, which downgraded China's debt from AA- to A+, is the second major credit ratings agency to slash the Asian giant's rating after Moody's made the same decision in May. – Rappler.com