The headquarters of China Evergrande Group, centre, in Shenzhen. The developer was downgraded in three steps during the third quarter by Fitch because of its liquidity crisis. Photo: Reuters
The headquarters of China Evergrande Group, centre, in Shenzhen. The developer was downgraded in three steps during the third quarter by Fitch because of its liquidity crisis. Photo: Reuters

China Evergrande crisis casts shadow on Chinese real estate sector’s outstanding US$232 billion offshore bonds, Fitch says

  • Together with Fantasia Holdings and Ronshine China, Evergrande has driven the bulk of the six downgrades that Fitch made during the third quarter in a portfolio of 50 major Asian high-yield corporate issuers
  • Funding costs for such issuers had risen to 7.5 per cent as of the end of the third quarter, from 6.3 per cent in the second quarter

The headquarters of China Evergrande Group, centre, in Shenzhen. The developer was downgraded in three steps during the third quarter by Fitch because of its liquidity crisis. Photo: Reuters
The headquarters of China Evergrande Group, centre, in Shenzhen. The developer was downgraded in three steps during the third quarter by Fitch because of its liquidity crisis. Photo: Reuters
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