Evergrande’s Dollar Bonds Jump on News of Progress on Restructuring; Yuzhou to Delay Bond Payment
Evergrande’s dollar bonds jumped over 4 cents on the dollar on Friday after a report cited by Bloomberg mentioned that the Guangdong government plans to release a debt restructuring framework by March that includes a plan to address offshore debt. This is seen...
Agile Downgraded by Moody’s to B1; DaFa Flags Warns of Non-Payment on Dollar Bond
Moody’s cut Chinese property developer Agile’s corporate family rating to B1 from Ba2 and its senior unsecured rating to B2 from Ba3. This comes just a day after S&P downgraded Agile to B+ from BB-. Similar to most of the recent rating actions on...
Agile Downgraded to B+ by S&P
Agile Group was downgraded to B+ from BB- by S&P due to sizeable near-term maturities and tightening funding access amid weak market confidence on the property sector; outlook is negative. The downgrade comes a week after Agile said that it agreed to sell 14...
