China's zero-Covid stance could worsen the debt situation for the country's companies, some of which are already in financial distress, says S&P Global Ratings.
S&P Global Ratings warned last week that the global resurgence of Covid and China's zero-tolerance approach may further strain companies if outbreaks continue to lead to disruptions.
The firm warned in a report last week that the global resurgence of Covid and China's zero-tolerance approach may further strain companies if outbreaks continue to lead to mobility restrictions and disruptions broadly. "Higher leverage, weaker cash flows, tighter liquidity, and volatile financing conditions are biting. And all this is occurring amid unprecedented distress events and regulatory actions," they said.
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