Agile to Redeem Onshore Bond; Will not Have Material Financial Impact
Agile Group said that it transferred funds to the China Securities Depository and Clearing Corp Shanghai branch to redeem an RMB 1.5 ($223mn) 6.2% onshore private placement issuance. Agile said there will be no material impact on its financial position due to the...
Agile’s Dollar Bonds Jump after Loan Repayments
Agile Group’s dollar bonds rose by over three points after reports that it made repayments on two of its outstanding loans. While details of the loans are not available, Bloomberg notes that the repayments have eased the developer’s cash flow mismatch....
Agile Downgraded to B3 by Moody’s
Agile Group was downgraded to B3 from B2 and its senior unsecured ratings to Caa1 from B3, with a negative outlook. Agile’s liquidity is expected to remain “inadequate in the next 12-18 months” without new external financing, funding and timely...
