Moody's has withdrawn China's property developer Vanke 'Baa3' rating and put all Vanke's ratings on downgrade watch due to liquidity concerns amid tumbling property sales. Vanke's debt ratings were downgraded to 'junk' status, leading to share dumping. Country Garden, another major Chinese property developer, missed a coupon payment on a yuan bond for the first time, entering a 30-day grace period, and faces a lawsuit seeking liquidation offshore.
⚠️ S(and)P PUTS PROPERTY GIANT CHINA VANKE ON DOWNGRADE WARNING Full Story → https://t.co/PbD8rok3Br There was more bad news for the Chinese property sector on Friday, as credit rating agency S(and)P Global put one of the country's biggest developers, China Vanke, on a…
China Vanke posted its biggest sales decline since at least 2018, adding to the woes of the Chinese property developer that’s trying to stave off its first-ever debt default https://t.co/wlSgpGWyj7 via @markets @emmadonghui
China Vanke posted its biggest sales decline in six years, adding to the woes of the Chinese property developer that’s trying to stave off its first-ever debt default https://t.co/EVtHZDPhFa
Country Garden missed a local bond payment—the latest stumble for what was once among China's strongest developers. The failure to pay $13.4 million in interest was the first time Country Garden missed an interest payment on an onshore bond. @RebeccaYFeng https://t.co/dAyKyDmf37
Chinese developer Vanke has been fighting to avoid its first-ever default https://t.co/PTqo2tLI2q
Country Garden Holdings Co. Ltd. missed a coupon payment on a yuan bond for the first time, adding to the woes of the Chinese developer as it faces a lawsuit seeking its liquidation offshore https://t.co/1CTpTFmDXq
“It was the first time Country Garden missed a payment on an onshore bond but it has already failed to pay overseas creditors. It defaulted on a dollar bond in Oct and is fighting a liquidation petition in Hong Kong related to a roughly $200 million loan.” https://t.co/yVleJRC0qv
Chinese homebuilder Country Garden misses a local bond payment on a yuan bond for the first time after debt extensions -Owes a 96mn yuan / $13mn coupon that was due today on a 4.8% bond maturing in 2026 -Doesn't bode well for the company and local creditors -The company already…
#Property developer China #Vanke trade lower in HK after a strong rally one day earlier, amid multiple media reports on its debt issues https://t.co/haGgRmRP6L https://t.co/rH9min7A9s
A reminder from @RBAInfo of the dire state of China's property market. https://t.co/meQ4AeFjZT
Country Garden missed a coupon payment on a yuan bond for the first time, adding to the woes as it faces a lawsuit seeking its liquidation offshore https://t.co/Q7z2QAuyVP
⚡HK-listed Chinese property developers dropped a bit on Tuesday due to a Country Garden onshore bond entering the grace period, which has deepened the market's doubts about whether the embattled CG can avoid further default. Country Garden dropped by 3.3%, and China #Vanke down… https://t.co/R2lHOmRLZK https://t.co/H66T68S6M5
#CountryGarden failed to pay interest on an onshore #bond due Tue, now in 30-day grace period. The Wire >> https://t.co/haGgRmRhhd
Several bondholders of #CountryGarden have reported that they are yet to receive their interest from the 'H1 Country Garden 01' yuan bond issued by the company. The bond has now entered a grace period of 30 trading days. In response, Country Garden indicated that the delayed…
Country Garden onshore bondholders have not received coupon payment, news site reports https://t.co/QfIpElnUM5 https://t.co/tCW77JsIrE
Major Chinese property developer Vanke sees downgrade in Moody’s credit rating amid housing woes 🔗 https://t.co/rLRURl754T https://t.co/CoyzoxgnJw
More #China property woes. Today it’s #Vanke. A quick thread… https://t.co/MiQc9QBock
Moody's downgraded China #Vanke debt ratings to ‘junk’ status as liquidity concerns mount amid tumbling property sales, Vanke would have to offer discounts to strengthen its sales during the downcycle, which would weaken its profit margin. Some investors have been dumping shares… https://t.co/hUOKT8I6yi
Moody's withdraws #property developer China #Vanke 'Baa3' rating, put Vanke's all ratings on downgrade watch The Wire >>> https://t.co/haGgRmRP6L https://t.co/vw1LtLsENh