Local government financing vehicles (LGFVs) - China: Policies limiting support are credit negative for LGFVs; contingent liabilities to persist
CROSS-SECTOR SECTOR IN-DEPTH 29 June 2017 TABLE OF CONTENTS Government support will decline for many LGFVs 2 Support for LGFVs will become more differentiated during the coming few years 4 For the RLGs and sovereign, broad contingent liabilities remain a key credit driver 4 Moody's Related Research 6 Contacts Ivan Chung 852-3758-1399 Associate Managing Director [email protected]
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