by Amruth Sundarkumar | Dec 2, 2022 | China, Investment Grade Bonds
Some of China Huarong’s dollar bonds were up over 10% yesterday, though there was no specific news regarding the company. Over 30 developers including names like China Vanke, Longfor Properties, Country Garden have received credit lines totaling RMB 2.2tn...
by Amruth Sundarkumar | Sep 22, 2022 | China, Financial Institutions
China’s big-4 asset management companies (AMCs) were downgraded by S&P upon challenging operating conditions due to China’s economic slowdown, market volatility and property sector troubles. Due to this S&P sees weakened earnings prospects. The...
by Amruth Sundarkumar | Aug 30, 2022 | China, Corporates
China’s state-owned distressed debt managers China Huarong and China Cinda posted muted earnings for 1H 2022 on rising credit impairments and the crisis in the real estate sector. Huarong reported a loss of RMB 18.9bn ($2.7bn) vs. a profit of RMB 158.3mn ($22.9mn) in...
by Amruth Sundarkumar | Aug 23, 2022 | China, Corporates
China Huarong’s dollar bonds filled the losers list yesterday after the bad-debt manager was placed on review for a downgrade by Moody’s. The rating action was taken in response to Huarong’s $2.8bn loss warning last week for 1H 2022 where it said...
by Amruth Sundarkumar | Aug 17, 2022 | China, Investment Grade Bonds
China Huarong said that it expects a net loss of RMB 18.9bn ($2.8bn) in H1 2022 after credit impairment losses “increased significantly”. The asset manager said that the impact of capital market volatility and the “downturn in the real estate market” were adding...
