Fitch downgrades China's sovereign credit rating - fear of the need for a government bailout

China's sovereign credit rating has been cut by a major international agency for the first time since 1999 with Fitch raising concerns that the country's rising debt problems will require a government bailout.

Fitch downgraded China's long-term local currency rating from AA- to A+, citing a number of "underlying structural weaknesses" in the Chinese economy, including low average incomes , lagging standards of governance, and a rapid expansion of credit ... READ MORE

Released by the Financial Times - 9 April 2013