Business, China

Rating agency downgrades Chinese insurer Anbang Life over growing debt pressures


The credit rating of China’s Anbang Life Insurance Co was downgraded by Dagong Global Credit Rating Co on Wednesday, three months after the regulator curtailed its operations and two months since the chairman of its parent company disappeared from public sight.
The downgrade by one notch to AA+ came as Dagong said in a statement that Anbang Life is facing growing debt repayment pressure as a result of liquidity strains and falling investment yields.
Anbang Insurance says chairman Wu…

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