Ratings agency S&P Global on Thursday affirmed China’s long-term, short-term, and local currency sovereign credit rating at A+, citing strong fiscal stimulus as a key factor in maintaining economic resilience amid ongoing challenges in the property sector and from tariff pressures. The agency also maintained the country’s outlook at “stable.” “The stable outlook on the long-term sovereign credit rating reflects our view that China will return to self-sustaining economic growth of 4% or more annually over the next one to two years,” S&P said in a statement. S&P added that it could lower China’s rating if it expects the government to implement significantly larger fiscal stimulus over the next three to five years. Conversely, the rating may be raised if fiscal consolidation proceeds faster than anticipated. In comparison, Moody’s last rated China at A1 with a negative outlook, while DBRS Morningstar assigned an A rating with a stable outlook.