Moody's Urges Remote Work as China's Economic Outlook Dims
Moody's Investors Service advised its staff in China to work from home ahead of its announcement cutting the outlook for sovereign bonds to negative in China. The move was likely motivated by fear of government inspections following the rating company's outlook cut. Moody's also told analysts in Hong Kong to temporarily avoid travel to the mainland. China sought to contain any hit to investor sentiment after the announcement by raising support for the yuan and denouncing Moody's understanding of China's economy. The announcement has put a spotlight on China's debt issues and foreign companies have complained about sporadic crackdowns that hurt business sentiment.
