S&P Global Ratings
Coverage of S&P Global Ratings in the Nexus archive.
- China’s passenger car exports are up 80% in June as EV demand grows, while sales drop at home
China's passenger car exports rose 80% in June 2023, driven by strong electric vehicle demand, while domestic sales fell 26% in the first half of the year. Export growth was attributed to overseas expansion by automakers like BYD, despite domestic market challenges including price wars and reduced EV subsidies.
- What’s driving China’s retailers to bet on own brands? Profit growth, price control: S&P
China’s largest retailers are prioritizing private-label products to drive profit growth and customer loyalty, with the category expected to double its share of the fast-moving consumer goods (FMCG) market in eight years. S&P Global Ratings attributes this shift to declining supplier-funded income and intensifying competition.
- China’s big trucks go electric and abroad as subsidies help pave road to net-zero freight
China's domestic heavy-duty truck manufacturers are expanding overseas as electrification and subsidies drive sales in Southeast Asia and Africa. Analysts from S&P Global Ratings highlight companies like FAW Jiefang and Foton Commercial Vehicles as key players in this growth.
- China’s big trucks go electric and abroad as subsidies help pave road to net-zero freight
Chinese heavy-duty truck manufacturers are expanding electric vehicle production and overseas sales, driven by technological advancements and lower ownership costs. Analysts predict growth in Southeast Asia and Africa, where companies like FAW Jiefang and Foton Commercial Vehicles have established assembly hubs.
- S&P keeps U.S. sovereign rating at AA+ with stable outlook
S&P Global Ratings affirmed the U.S. sovereign credit rating at AA+ with a stable outlook, citing economic resilience and controlled fiscal deficits. The agency noted risks from political polarization and potential spending increases but stated the U.S. will likely avoid default by resolving debt ceiling issues.
- I spent 8 years flood-proofing a city. Capital markets are running out of time to take El Niño seriously
Federal forecasters predict a high likelihood of a strong El Niño this winter, emphasizing the urgency for resilience infrastructure investment. A former Hoboken mayor highlights successful flood-mitigation projects like ResilienCity Park, which reduced flooding and protected economic stability, while noting capital markets are lagging in treating resilience as a distinct investment category. Boston Consulting Group projects $3 trillion in annual resilience-focused investment demand by 2030, with inaction costing up to 15 times more.
- Bahrain suffers wartime trade slump
Bahrain's trade value dropped 14.5% in Q1 due to the Iran war, with imports down 17% and non-oil exports falling 10%, though the trade deficit decreased. The UAE provided $5.4 billion in financial support, and S&P Global Ratings anticipates continued Gulf ally backing.
- China’s Zijin Mining outlook raised to positive on stronger output and cost edge: S&P
S&P Global Ratings upgraded Zijin Mining's outlook to positive due to expanded production and improved cost management. The rating agency maintains a 'BBB' long-term credit rating for the company, expecting it to become a top-three global gold and copper producer by 2028.
- Kuwait’s caution looks prescient in face of Iran war
Kuwait's cautious economic approach, including a $1 trillion sovereign wealth fund, has provided resilience during Gulf disruptions linked to the Iran war. While other Gulf states pursued rapid modernization, Kuwait's risk-averse policies, rooted in past conflicts like the 1990 Iraq invasion, are now yielding benefits despite a 15% projected fiscal deficit.
- Mexico Rating Outlook Revised to Negative at S&P as Debts Mount
S&P Global Ratings revised Mexico's credit outlook to negative due to weak fiscal results and rising debt levels. The revision is a result of persistently weak economic growth. Mexico's credit outlook was previously stable.