by Amruth Sundarkumar | Jul 14, 2022 | China, Corporates, Credit Ratings, High Yield Bonds
Fitch has downgraded Central China Real Estate to B from B+ citing tight liquidity following weak contracted sales in H1 2022. Consequently, there is uncertainty whether it can repay an outstanding amount of $500mn on its dollar bonds due in August 2022. In light of...
by Megha Malhotra | Aug 24, 2021 | China, Investment Grade Bonds
Central China Real Estate (CCRE) saw its dollar bonds recover some of the losses last week after it reported 1H earnings last Wednesday. CCRE’s 6.875% 2022s fell ~7 points between August 18-20 after the results were announced but have now recovered some of the...
by Megha Malhotra | Aug 20, 2021 | China, High Yield Bonds
Dollar bonds of Central China Real Estate (CCRE) tanked by as much as 12% after the property developer reported its half yearly results which showed a sharp rise in its net debt ratio and a slump in cash. Its net borrowings totaled CNY 11.8bn ($1.8bn) with its net...
by bondevalue | Mar 4, 2021 | China, Financial News
The Chairman of China Banking and Insurance Regulatory Commission (CBIRC), China’s banking regulator said that risks in the property sector are increasing and called it a “bubble”. Mr. Guo Shuqing, the Chairman said, “Many people buy homes not to live in, but to...
