Moody’s Investors Service cut its outlook for the Chinese government’s credit ratings, due to growing concerns about a slowing economy , shrinking foreign reserves and a weakening currency . The U.S. ratings firm said it lowered its outlook on China’s credit rating to negative from stable, while affirming the still-respectable Aa3 grade on its sovereign debt. Moody’s cited China’s rising debt, the continuing depletion of its foreign reserves and doubts about Beijing’s ability to carry out economic reforms as reasons for its move. “The negative outlook is a result of [the fact that], on balance over the last few months, the trends have become more pronounced,” said Marie Diron, a sovereign analyst at Moody’s. Ms. Diron said while leverage has increased rapidly, state-owned companies’ ability to service their debt has also deteriorated and that could weigh on the sovereign balance sheet. Meanwhile, tangible reforms have been hard to come […]