The firm suspended the trading of an onshore bond worth 500 million yuan (US$71 million) from Thursday, citing ‘a major event’. Photo: AFP

Chemicals giant Shandong Yuhuang downgraded by S&P as it is ‘almost certain’ to default on two bonds, in latest sign of financial strain in China’s third-biggest province

  • Company is ‘highly unlikely’ to receive local government support for the two onshore bonds due in November and December, says ratings agency
  • Shandong Yuhuang’s troubles are indicative of widespread liquidity stress faced by the local private economy
Topic |   Bonds

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The firm suspended the trading of an onshore bond worth 500 million yuan (US$71 million) from Thursday, citing ‘a major event’. Photo: AFP
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