S&P yesterday lowered its outlook on Fosun International’s BB-minus rating to negative, illustrating that even rating agencies cannot agree on the risks of a debt-fuelled deal spree.
The move came just a month after rival Moody’s took a more sanguine view of the Chinese conglomerate, upgrading its outlook on the ratings of Fosun Group’s flagship listed company from “negative” to “stable”.
Fosun, founded by Guo Guangchang, is China’s largest private company and also one of its most acquisitive.
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