An advertisement for a China Evergrande development in Hong Kong. The company’s half-year profit dropped 29 per cent compared with a year earlier. Photo: Reuters An advertisement for a China Evergrande development in Hong Kong. The company’s half-year profit dropped 29 per cent compared with a year earlier. Photo: Reuters
An advertisement for a China Evergrande development in Hong Kong. The company’s half-year profit dropped 29 per cent compared with a year earlier. Photo: Reuters

Fitch says ‘some kind of default appears probable’ at China Evergrande, cuts debt rating along with Moody’s

  • Fitch cuts ratings for Shenzhen-based firm and its subsidiaries to “CC”, four levels below investment-grade debt
  • Credit ratings downgrades briefly send Evergrande shares in Hong Kong below their 2009 IPO price

Topic |   Banking & Finance
An advertisement for a China Evergrande development in Hong Kong. The company’s half-year profit dropped 29 per cent compared with a year earlier. Photo: Reuters An advertisement for a China Evergrande development in Hong Kong. The company’s half-year profit dropped 29 per cent compared with a year earlier. Photo: Reuters
An advertisement for a China Evergrande development in Hong Kong. The company’s half-year profit dropped 29 per cent compared with a year earlier. Photo: Reuters
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