China Evergrande Group
After months of struggling to pay down its massive debts China Evergrande Group has defaulted a ratings agency said Thursday. Latest news and analysis about the China Evergrande Group the worlds most indebted property developer.
But now it is buckling under the weight of more than 300 billion in debt.
. China Evergrande Group is an investment holding company which engages in the development investment and management of real estate properties. Fitch Ratings said on Thursday it had downgraded homebuilder China Evergrande Group and its subsidiaries Hengda Real Estate Group Co Ltd and Tianji Holding Ltd to RD Restricted Default from. Fears are rising about Evergrandes ability to repay its cascading pile of debt against.
Evergrande Group was once Chinas most prolific developer its cranes dotting Chinas skylines. Fitch Ratings said in a statement that it had placed the embattled. China Evergrande Group edges closer to default after missing debt deadline Failure by Evergrande to make 825 million in interest payments due last month would trigger cross-default on its roughly 19 billion of international bonds and put the developer at risk of becoming Chinas biggest defaulter - a possibility looming over the worlds.
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