Fitch downgrades China Aoyuan after it says it is defaulting

Economy 01/22/22, 16:03

On Jan. 21, Fitch Ratings downgraded property developer China Aoyuan Group Limited's Long-Term Foreign-Currency Issuer Default Rating to Restricted Default from 'C.' Because Aoyuan won't repay four dollar bonds and said, "Events of default will occur (or have occurred) under all other offshore financial indebtedness of the group,"  Aoyuan is the latest ...

Chinese property giant Kaisa defaults as debt default wave continues

China 12/08/21, 16:32

Evergrande announced on Dec. 3, 2021, that its first U.S. dollar bond would default after Kaisa's announcement that it would not be able to renew its overseas obligations. Kaisa Group, a Chinese property developer, stated on Dec. 3 that its request to extend its foreign bond obligation for $400 million had ...

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