The ratings agency blames the problem on the combined effects of China’s economic rebalancing and ongoing capacity additions.
Furthermore, Moody’s says a port’s location has become a more important credit factor in differentiating among the Chinese ports.
Moody's expects the standalone credit quality of Chinese port operators to widen as a result.
“The ongoing downturn in the iron ore and coal sectors, combined with intense competition from neighboring ports, is threatening a number of ports in north and northeast China that mainly handle commodity bulk cargo,” says Moody’s senior analyst Michelle Zhang.
“Along
