Fitch Downgrades Sri Lanka to CC from CCC Following The S&P Downgrade Last Week
Fitch has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to CC from CCC, following S&P’s downgrade to CCC from CCC+ last week. Fitch expressed their view of a higher probability of default in the coming months with...
Undisclosed Debt at Logan Group Sparks Another Selloff In Developers’ Bonds
Chinese property developers’ bonds took another beating on Monday led by Logan Group, whose bonds fell ~15 points after Debtwire reported that the developer could have $812mn worth of hidden guarantees on outstanding debt obligations through 2023. While Logan...
Country Garden Buys Back $10mn of Bonds to Calm Investor Concerns
Country Garden, China’s largest developer by sales and one of the few remaining investment grade-rated (BB+/Baa3/BBB-) Chinese developers, bought back $10mn worth of its dollar bonds on Monday in a bid to calm investor concerns over its liquidity position. The...
