S&P cuts Fosun outlook to 'negative' on post-M&A debt concern

S&P Global Ratings (S&P) has lowered the outlook for its rating of Fosun International Ltd credit to "negative" from "stable", citing concern about the Chinese conglomerate's debt remaining high after recent acquisitions. S&P said it based the revision on Fosun's 2015 earnings announced on March 30. It also affirmed its rating of Fosun's long-term credit at "BB", two notches below investment grade.